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Week in FX Europe – Not everyone is a EUR Basher
EUR remains on the back foot after a surprisingly strong NFP headline and monthly revisions. A resilient US jobs report has some thinking that the FED may be less likely to go further down the QE path. No matter what next weeks US election outcome is, history tells us that it should favor the dollar, short term at least. Not everyone is a EUR basher, SNB’s Jordan believes that the EUR/CHF floor at 1.20 was and is the ‘right policy.’ Swiss policy makers are adamant that the floor will remain in place and are dependent on economic factors. Jordan continues to defend the floor believing that the franc remains ... (full story)