EUR/USD faces selling pressure near the psychological resistance of 1.0500 in Monday's European session after a solid opening that lost some steam as the US Dollar (USD) attempts to rebound.
The US Dollar Index (DXY), which gauges the Greenback's value against six major currencies, broadly consolidates at around 107.00 as investors digest the selection of fund manager Scott Bessent for the role of Treasury Secretary by President-elect Donald Trump.
The Greenback fell sharply early in the Asian session, as did 10-year US Treasury yields, in a warm welcome by bond markets given Bessent's old relation with Wall Street.
Still, this initial reaction appears to be short-lived as the US Dollar swings between mild gains and losses.
Source: FXStreet
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