Dollar Reaches 17-Month Highs Amid Global Bond Sell-Off
The EUR/USD pair has continued its downward trend, reaching levels not seen since May 2025. The current price is around $1.1235, a decline of 0.07% from yesterday's value.
The sharp sell-off in global bond markets, particularly the U.S. Treasury market, has put pressure on the euro. The 10-year U.S. Treasury yield reached its highest level since 2002 at 5.344%, before stabilizing around 5.24-5.25% on October 2.
The French bond market has also seen increased pressure, with the spread between French and German 10-year yields widening to around 149 basis points due to concerns over France's budget and public finances.
The dollar has risen to 17-month highs as a result of these developments, making dollar-denominated assets more attractive. The next major catalyst for the EUR/USD pair will be today's U.S. labor market report, which is expected to release Nonfarm Payrolls data at 12:30 GMT.