The EUR/USD has probably peaked at 1.20 according to Scandinavian lender SEB, who struggle to see on what basis the pair could go higher, in the short-term at least.
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The Euro to US Dollar pair has been in a strong uptrend since the start of the year and most recently it continued that trend up to a new high of 1.2069 on Monday.
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CIBC Capital Markets have announced the harvesting of profits from a trade that sought to benefit from the recent appreciation in the Euro.
Read more … →The forecast for a lower EUR/USD by the end of 2017 sets Meier and his team as outliers in the forecasting community, but their message is credible - this ECB trade is burning hot.
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The Euro broke above the 1.20 v the Dollar for the first time since the start of 2015 as positive momentum combines with a broad-based soft US Dollar sentiment.
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The EUR/USD has rebounded mainly because the Dollar weakened following comments from Fed Chair Jannet Yellen at the central banking symposium in Jackson Hole.
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