EUR/USD pair looks to extend its downside consolidation phase around 1.1850 into Europe, as the bears take a breather after the over 100-pips Wednesday’s sell-off. The weakness in the US Treasury yields is seen capping the upside in the US dollar so far this Thursday.
The recent slump in the spot from near two-year highs of 1.1956 was mainly driven by a broad-based US dollar comeback. The greenback staged a solid recovery from 27-month lows amid speculative interests and strong bond auction