Treasury Yield

EUR/USD retreated from this month’s high as traders digested US GDP and PCE data while awaiting guidance from the Jackson Hole Symposium. Technical traders are watching 1.1620 support, 1.1710 resistance and a possible extension toward 1.1800 if bullish momentum returns.

Stanley Druckenmiller warned that the Treasury’s expanded bond buyback plan may provide temporary relief but cannot override the fiscal forces pushing long-term yields higher. The intervention debate has also fed demand for hard assets, with bitcoin and gold rising as traders weigh the prospect of more aggressive policy support.

Bitcoin weakened over the past 24 hours as renewed U.S.-Iran hostilities pushed oil prices higher and traders reduced exposure to risk-sensitive assets. With June CPI due later today, markets are watching whether inflation data will ease or reinforce expectations for a July Federal Reserve rate increase.