EUR-USD is lower today after three successive up days, through to Friday when a high was left at 1.1006. The pair has today drifted to the mid-1.09s. We expect EUR-USD to retain a downside bias. There has been no change in the dominant bearish narrative that drove the pair some 4% lower during the latter half of May, after making a three-month peak of 1.1486 on May-15: the continued lack of substantive progress in Greece's bailout negotiations, and the rekindled Fed tightening theme. USD-JPY recovered above 124.00 but last Thursday's major-trend high at 124.46 has remained unchallenged.
from RSS Feed http://ift.tt/1GQvNdq
via IFTTT
No comments:
Post a Comment