fxstreet.com 23 Feb, 2021 12:45 am

The recent slip seems like a correction before the next move higher

The recent slip seems like a correction before the next move higher
EUR/USD has retreated from the highs after US yields resumed their gains. All eyes are now on Jerome Powell, Chair of the Federal Reserve, who testifi

FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.All eyes are now on Jerome Powell, Chair of the Federal Reserve, who testifies before Congress later in the day and may propel the euro higher.Key quotes “Fed Chair Powell testifies before Congress and markets are eagerly awaiting his comments on the Fed's bond-buying scheme.

Meanwhile, the technical picture looks bullish, FXStreet’s Analyst Yohay Elam briefs.Dismissing these recent moves would hurt stocks, which need low-interest rates to thrive.

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