Surging USD yields push EUR/USD lower as bond market jitters continue

EUR/USD sits at the lowest level since mid 2025 - around 1.1250 as USD yields surge and bond market worries hit the EUR.

GBP/EUR pushes upwards through 1.1700 due to EURO weakness as the IMF puts out a statement saying global bond markets are functioning ‘normally’. This is an unusual step on the part of the IMF, aimed at tempering the increasing global ‘worry’ as yields rise globally.

All this on a day when Eurozone inflation hits 3.8% - above expectations and to a level not seen since 2023.