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EUR: Shorts restrained – AmpGFX

Greg Gibbs, analyst at Amplifying Global FX Capital, suggests that there are reasons to be restrained in setting EUR shorts.  

Key Quotes

“Brexit may be moving towards a less disruptive outcome, Chinese policy stimulus may precede improved Chinese, global and European economic data.”

“The US may soon reverse some or most of its tariffs on Chinese goods, and trigger a rebound in confidence for European assets.   However, if the EUR has moved into a weaker regime over the last year; one where there is no overhang of Euro crisis era EUR hedges, and EUR is viewed as one of the best currencies for funding ‘risk-on’ or ‘carry trades’, then its upside may be limited, and it could retain a broader downtrend for the foreseeable future.”

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