Euro Weakens Below 1.1350 as US Treasury Yields Rise and Lagarde Takes Dovish Tilt

The EUR/USD pair has weakened to around 1.1325 during early Asian trading hours on Thursday, as the US Dollar strengthens against the Euro amid rising US Treasury yields.

The US weekly Initial Jobless Claims report and Fedspeak will be key highlights later in the day, with traders pricing in a 38.2% chance of a quarter-point rate hike next month, down from 51% a day ago.

European Central Bank President Christine Lagarde said rising bond yields would curb economic expansion and limit elevated energy costs' transfer to inflation, prompting a dovish tilt that contributed to the Euro's weakness.