Goldman Sachs on what favours the euro higher in the short term

Strategists at GS on
the EUR, say despite the increasing probability of further ECB easing
in July it “still seems to be the currency of choice”

  • has seen short covering supporting it
  • expect this to continue in the near term, providing further supporting
  • systematic traders using simple momentum approaches likely to buy given it broke above its 200 day MA

GS add they expect
to see more USD unwinding vs other recurrences as well as against EUR


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