Euro Gains as Oil Prices and Treasury Yields Reverse Post-Fed Rally

The Euro has gained ground against the US Dollar as the post-Federal Reserve rate hike rally loses momentum.

Falling Oil prices have pulled US Treasury yields away from their recent highs, prompting the Greenback to trim part of its gains.

The EUR/USD pair is trading around 1.1492, up 0.24% on the day, hovering near levels last seen on July 31.

Oil prices have dropped nearly 2% as Saudi Arabia's efforts to reroute oil and hopes for a faster recovery of its key pipeline ease supply concerns.

The 10-year US Treasury yield has fallen to around 4.94%, below the 5.04% level touched earlier this week, its highest since 2007.