Looking to the EUR/USD chart above, the sinking towards parity remains very much on the cards with the technicals also lining up. With political uncertainty also set to cast a large shadow over Europe in the first half of the year, it might be tough to feel optimistic about the euro or euro-related assets at this point.
It's tough to pick at support levels for EUR/USD at the moment and that is the danger for the pair as any further drop could well be exacerbated by the lack of supportive elements.
A hotter dollar continues to make a case for a downside move in the pair, especially with the selloff in the bond market in December. That's certainly a spot to be mindful about even if there might be a short-term retracement in January. 10-year yields in the US are down 4 bps to 4.536% today while 10-year yields in the UK are down 1.5 bps to 4.558% currently.
This article was written by Justin Low at www.forexlive.com.Hence then, the article about euro sterling in retreat mode to start the new year was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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