The euro has been under significant pressure ever since global recessionary fears gripped markets causing price to pierce through multi-decade lows. This morning, the euro clawed back some of its recent losses after the FOMC minutes yesterday saw Federal Reserve Chair Jerome Powell attempt to cool concerns around a global slowdown by highlighting their (Fed’s) preferred yield curve measure being the 3-month vs forward 3-month as opposed to the 2s10s curve emphasized by the wider market. This shorter term curve is yet to invert and given the euro some respite against a rampant dollar.
