XE Market Analysis: Europe – Mar 21, 2019

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The Dollar has tumbled after the Fed signalled there would be no further rate hikes this year and that it would halt the steady decline of its balance sheet in September. This drove U.S. yields lower, with the 10-year T-note retreating to levels below 2.53%, levels not seen since January 2018. The narrow trade-weighted USD index (DXY) concurrently dove by 0.7% to a six-week low at 95.75, while EUR-USD rallied by a similar magnitude in printing a six-week high at 1.1448, bumping up on the pair’s 200-day moving average before settling to the lower 1.1400s.