EUR/USD pulls back from eight-week highs as US yields bounce from record lows. The US index futures are pointing to risk reset. Risk-on will likely weigh over the EUR, a safe-haven currency. EUR/USD has pulled back from two-month highs, possibly tracking the recovery in the US treasury yields. The pair is currently trading at 1.1160, having hit high of 1.1214 on Tuesday. That was the highest level since Jan. 2. Meanwhile, the 10-year US treasury note is trading at 0.986%, representing a seven basis point gain from the record low of 0.916% reached Tuesday. The two-year yield has also recovered to 0.683% from 0.613%. Yields had tanked during Tuesday’sNorth American trading hours, sending the US dollar lower across the board in response to the decision by the US Federal Reserve (Fed) to cut rates by 50 basis points. The emergency rate cut delivered to contain the negative impact of coronavirus on the economy initially had a positive impact on equities. The sentiment, however, turned bearish and the US markets ended the day in the red as investors took the rate cut as a sign of panic. Focus on equities Markets have treated the EUR as a haven currency throughout the recent bout of coronavirus-led risk aversion. This is evident from EUR/USD’s near 90-degree surge from 1.0788 to 1.12 seen in the last eight trading days. So, if the risk sentiment improves, the bid tone around the single currency will likely weaken, allowing a notable pullback in EUR/USD. At press time, futures on the S&P 500 are reporting a 1.2% gain. On the data front, German and Eurozone retail sales and final German and Eurozone PMI readings will be eyed by traders. Across the pond, the US ISM non-manufacturing (Feb) will take the center stage. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/IDR Price Analysis: Extends pullback from 100-week SMA FX Street 3 years EUR/USD pulls back from eight-week highs as US yields bounce from record lows. The US index futures are pointing to risk reset. Risk-on will likely weigh over the EUR, a safe-haven currency. EUR/USD has pulled back from two-month highs, possibly tracking the recovery in the US treasury yields. The pair is currently trading at 1.1160, having hit high of 1.1214 on Tuesday. That was the highest level since Jan. 2. Meanwhile, the 10-year US treasury note is trading at 0.986%, representing a seven basis point gain from the record low of 0.916% reached Tuesday. The two-year yield has also recovered to 0.683% from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.