EUR: Flirting with the Month Long Range - BBH
Research Team at BBH, suggests that the euro has yet to convincingly
breakout of the range that has confined it this month and that would
require a break of the $1.1300 area.
Key Quotes
“However,
as we have noted before, the two-year interest rate differential
between the US and Germany (which does a fair job tracking the
euro-dollar exchange rate) has been recovering in the dollar's direction
for several days, setting the stage for euro setback after repeatedly
trying to convincing push through the $1.1450. It may require a break
of the $1.1270 area to lead more into thinking the euro has put in a top
of some importance.”
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