The euro is holding steadier ahead of the ECB policy decision later today, being the only currency to outperform the dollar in trading yesterday. That said, the gains are more measured and EUR/USD remains in consolidation ahead of the key risk event:
Risk tones were more sluggish yesterday as equities retreated, continuing the back and forth mood this week. That comes as Treasury yields rose once again with 10-year yields back above the 3% (currently at 3.038%). European bond yields also remain perky ahead of the ECB, awaiting tips about what the central bank may decide in July. 10-year German bund yields are at their highest since 2014, above 1.35%.