Here is the whole story in the euro right now: Everyone is short the euro and now everyone is covering in a huge delveraging event.
Yes, there’s the story about rate differentials but everything is mechanical at the moment and there is a massive amount of money that’s left Europe for US tech stocks or other USD-denominated assets.
Technically, I see an inverted head-and-shoulders here that targets 1.12-1.13.
This article was written by Adam Button at www.forexlive.com.
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