US dollar flexes its muscles once again. Euro hits five-week low ...Middle East

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US dollar flexes its muscles once again. Euro hits five-week low
The US dollar is at the best levels of the day as the euro and pound fall to the wayside.The bond market is offering the dollar some support with 2-year yields up 2.6 bps and 30s up 5.1 bps in a moderate bear steepener. Further pressure on yields could come from oil, which is now positive on the day at $74.68 from a low of $73.41.The euro was already down 30 pips on the day to 1.0850 before the release of January consumer confidence but fell further after the report showed a decline to -16.1 from -15.0. The impact of higher rates is biting the eurozone economy, though there are still some dividends from lower energy prices.The latest leg lower in EUR/USD has sent the pair to its lowest since

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