- EUR/USD has met contention near 1.20
- US Dollar strength keeps the pair under pressure.
- The US ADP report beats forecasts at 174K in January.
The Euro remains under pressure dragging on the EUR/USD to new yearly lows just above 1.20EUR/USD looks to USD
EUR/USD around 2 month lows at 1.20 on the back of a strengthening greenback from rising US 10-year yields, bouncing to the 1.21%.
Poor Service sector PMIs in the eurozone added to concerns over the health of the region’s economy.
inflation figures were more upbeat rising by more than expected in January, although this is expected to be temporary.
The US ADP report saw the private sector add 174K jobs in January more than expected. The ISM Non-Manufacturing release will be in focus later in the session.