EROTF - Yuan Slump Continues While Hawkish ECB Comments Lift The Euro

• ECB comments suggesting a rate hike as early as July may be gaining momentum and is helping extend the euro's gains to an eight-day high near $1.0935.
• The Chinese yuan's drop has extended for a third session. Chinese President Xi defended the Covid policy seemingly over economic support, and this continued to weigh on Chinese stocks.
• The US 10-year yield fell by nine basis points yesterday, the most in nearly a month, having been turned back after nearing 3%.

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