The EUR/USD experienced a surge on Tuesday, marking the biggest daily gain in a month as it climbed from below 1.0800 towards the 1.0900 area. The key
driver behind this rally was a sharp correction in the US Dollar across the board, triggered by US economic data and a decline in Treasury bonds.
The primary driver of the EUR/USD rally was the weakening of the US Dollar. The pair weakened after disappointing employment data from the US, including the JOLTS report, and lower-than-expected numbers from the CB Consumer Confidence index. Following these releases, US Treasury yields plummeted, putting pressure on the US Dollar. The DXY index fell from 104.40, breaking below 103.50.
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