European currencies have struggled since Trump won last year’s presidential election. However, we feel that last week’s downside washout may have exhausted the move, but we’re cognisant that the interest rate differential remains supportive of the Greenback: The US Effective Rate is 4.33% compared to the Eurozone equivalent of 2.67%.
- We like the Euro from a risk/reward perspective; while it can hold above 1.02, we can see a test of 1.10.
MM are cautiously bullish on the Euro
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