Euro Begins to Recover Amid Slowing U.S. Yields

The euro rose in the European market on Thursday against a basket of global currencies, beginning to recover from its lowest level in two weeks against the U.S. dollar, on its way to achieving its first gain in the last three days, with buying activity from low levels, coinciding with the decline of the U.S. dollar amid slowing U.S. Treasury yields.

The U.S. dollar fell as the dollar index slipped about 0.2% on Thursday, continuing its losses for a second consecutive session, away from its highest level in three weeks, reflecting the ongoing decline of the dollar against a basket of major and secondary currencies.

The yield on U.S. Treasury bonds fell for the 10‑year Treasury on Thursday by 0.3%, continuing its losses for a second consecutive session, away from its highest level in three years, putting further negative pressure on the dollar’s exchange rate.

Expectations for the euro’s performance are outlined here on the "FX News Tody" site: continued positive movement of the euro against the dollar, amid easing military tensions between the United States and Iran, and with the current slowdown in U.S. Treasury yields.

• The U.S. dollar is falling amid slowing U.S. Treasury yields

• Takata calls for accelerating the pace of raising Japanese interest rates to counter pressures

• Probabilities of raising Japanese interest rates in September approach full pricing

Chicago wheat futures fell on Wednesday after retreating from their overnight highs, as well as from their all‑time highs over the past three and a half years, as traders took profits and assessed the latest developments affecting grain exports from the Black Sea region.