BofA revises up 10-year Treasury yields forecast for this year to 2.15% from 1.75%
Adding to that, the firm is also revising higher its 10-year German bund yields target to -0.25% from -0.40% previously.
This just adds to the slew of higher forecasts for bond yields since the turn of the year as the reflation focus stands out as being the major theme in the market so far.
Further Development
Analyzing the current trading chart of EUR/USD, I found there is absorption of the massive buying climax from FOMC day, which is sign of strong selling pressure.
Key Levels:
Resistance: 1,1910
Support levels: 1,1885 and 1,1840.
