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Euro Traders Start to Believe Lightning Won’t Strike Twice
Traders selling the euro are counting on history not to repeat. After being stuck in a range for months, the single currency has fallen below the median end-of-2016 forecast in a Bloomberg survey as investors come to the conclusion European Central Bank President Mario Draghi will ease monetary policy in December, just as the Federal Reserve raises interest rates. Options also signal a weaker euro, which may deliver the economic boost Draghi is trying to achieve.An upset is less likely this year “because expectations are reasonably cautious,” said George Saravelos, London-based global co-head of foreign-exchange ... (full story)
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