IIFT Daily Note with Peter Brown

Euro From Here?

Posted by:  |  Time: 8:54 am  |  Topic:
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This could be a split decision! In the absence of any negative news and that will only come on the stress testing of the banks, we could see the Euro reach 1.40.

The picture in Europe has’nt changed and nothing has been fixed. However support from China has bolstered the Euro and the market has been caught strategically short.

So don’t be surprised to see this squeez continue. The shorts will only get back in controll on bad news, which is likely to come from nervousness on the bank stress testing. That could be weeks away, so in the meantime be carefull.

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