The Euro has been one the weakest currencies through 2022 which is understandable considering the conflict raging in Eastern Europe but the downside momentum has clearly waned after the FX held its long term 1.03 support level, there are no buy signals yet but we couldn’t be short and our preferred scenario is we see a test off 1.10 over the coming months i.e. back to the mid-point of the last 6-years.
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