The Goldman Sachs strategists offer their bullish view on the Euro against the greenback despite ECB’s further easing calls.
Key Quotes:
“Despite the increasing probability of further ECB easing in July it “still seems to be the currency of choice”.
Has seen short covering supporting it.
Expect this to continue in the near term, providing further supporting.
Systematic traders using simple momentum approaches likely to buy given it broke above its 200-day MA.
Expect to see more USD unwinding vs. other recurrences as well as against EUR.”
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