Credit Agricole suggested to sell for EUR just because of the following:
- "The EUR has been under pressure regardless of the Greek parliament voting in favour of the agreed bailout package. Even if all measures are implemented successfully it still appears questionable whether debt-sustainability can be achieved. From that angle Greece-related uncertainty is likely to continue for longer."
- "ECB President Draghi reiterated anew that QE will run its course regardless of stabilising growth and price developments."
- "In terms of data, this week’s focus will be on July PMIs."
- "We expect the single currency to stay subject to downside risk. This is especially true when considering that speculative positioning is close to neutral territory, which suggests limited position-squaringrelated upside risk."