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EUR/USD, AUD/USD and Copper: Falling Yields Shift the Outlook

By: 
Christopher Lewis

Falling U.S. yields lift EUR/USD despite fiscal risks, while weak Australian jobs pressure AUD/USD and copper finds potential buying interest near $6.50.

US02Y

U.S. Treasury yields chart showing the 2-year yield near 4.79% and the 10-year yield near 5.21% on October 13.
U.S. Treasury yields ease, with the 2-year at 4.79% and the 10-year at 5.21% on October 13.

The first chart I’m looking at is the 2-year yield in the United States. With September CPI numbers on Thursday accelerating to 3.7% year-over-year, one would have thought it would have shot straight up in the air, and it did initially during the Wednesday session.