EUR/USD: The decline could accelerate below 1.2125

The EUR/USD pair fell to 1.2146 this Monday, its lowest since December 21, as demand for the greenback persists. The decline is set to continue on yields’ strength, Valeria Bednarik, Chief Analyst at FXStreet, reports.

Key quotes

“Following a terrible Nonfarm Payroll report, the market mood soured, yet at the same time, hopes for fresh stimulus rose. The dollar finds support in government debt yields, with as Treasuries yields stand at levels last seen in March 2020, retreating modestly from the multi-month highs clinched last week.”

“Further declines could be expected on a break below 1.2125, the immediate support.”