EUR/USD price action snapped sharply lower during afternoon trade on the heels of broad-based US Dollar strength. The move was sparked by an acceleration in the recent bond selloff, which catapulted the 10-year Treasury yield toward the 1.55% level. Markets were reacting to the lack of pushback from Fed Chair Powell during his speech about recent bond market volatility, toeing the line of other recent FOMC officials saying they are simply keeping an eye on the developments. Powell added that the central bank monitors a broad range of financial conditions and that the Fed is a long way from its goals. EUR/USD now ... (full story)