EUR/USD breaks below 1.03

FRANKFURT (July 5)  EUR/USD has just broken a massive support zone from early 2017. There has been a fresh wave of selling pressure in the pair as the U.S. dollar strengthened this morning. Interestingly it didn't affect gold as much as all the major FX pairs.  There has been some PMI data out this morning but it was largely in line with analyst and economist expectations. Traders seem to be trimming their bets on the ECB raising interest rates as fast as the Fed due to inflationary and growth pressures in the Eurozone. The German 2-year government bond yields fell this morning and the 10-year has also moved lower too. The POG fell below $1,800. 

KITCO