No guessing today who’s the winner/loser
Euro’s been bid since yesterday without relief, Weidmann’s being a good boy and echoing Draghi’s warning that easy monetary conditions are here to stay had a 25 points, half an hour impact before an inexorable extra 0.75% rise. We know the USD is offered when GBP is the next currency on G7 top shelves. The USD and especially Kiwi suffered today, the latter did overshoot earlier this week though.
Looking at the moves, as I commented before, these are not short term stops or risk plays, this is a proper USD bashing by what I believe are major accounts. We could have some , healthy hopefully retracement early next week, especially on an empty data day( well EU trade balance but honestly do you trade that ?) like Monday. But all in alI I remain on the USD offered side on rallies for now
and EUR cross bid on dips.
Enjoy a stellar Weekend, a nice glass of vino , the activities of your choice and don’t forget we’re back in this on Sunday night, or Monday morning for those in Asia.