The USD continues strengthening. Overview for 30.09.2021
EURUSD has reached its 10-month lows and still remains under pressure.
The major currency pair has dropped significantly over the last 24 hours. The current quote for the instrument is 1.1598.
The American currency is currently getting a huge boost from the US 10-year bond yield rally, which is happening based on market expectations of an early reduction of the QE program by the Fed.
The QE program will be reduced one way or another before the end of this year. Amid high inflation in the USA, the move raises more questions than it answers. In response to this, the bond yield is rising.
There will be a lot of statistics today from everywhere. The Euro Area will report on the Unemployment Rate, which is expected to drop to 7.5%. The USA is scheduled to publish the final GDP report for the second quarter, which may show 6.1% q/q.
FOMC members continue delivering their speeches, which may provide the “greenback” with some more support if they contain comments relating to the QE program closure.
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