The euro rose in the European Central Bank’s Oct. 21 reference setting, while FXStreet reported that United Overseas Bank (UOB) maintained its expected EUR/USD trading band for the next one to three weeks.
The ECB set its rate at $1.1234 per euro, compared with $1.1215 on Oct. 20. Its reference rates are published for information and do not represent trading-session closes.
FXStreet reported that UOB senior technical strategist Quek Ser Leang and economist Sue Ann Lee maintained a range of $1.1160 to $1.1280 per euro over one to three weeks. The bank’s narrower $1.1205 to $1.1255 range was a 24-hour view published Oct. 21, according to the outlet.
U.S. Treasury yields moved in opposite directions on Oct. 20. Treasury data put the 10-year yield at 5.12%, down from 5.15% on Oct. 19, while the two-year yield rose to 4.79% from 4.77%.
In a separate fourth-quarter outlook, UOB said it expects further Federal Reserve tightening to improve U.S. interest-rate differentials relative to Group of 10 peers and support the dollar. The ECB’s next monetary policy decision is scheduled for Oct. 29.
