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EURO Outlook – Is 1.15 Next?
Investors continued to sell euros on Wednesday, driving the currency to its weakest level since July. Europe’s greatest fear is materializing with the number of coronavirus cases exceeding 5 million. As we indicated at the start of the week, stricter restrictions are on their way. France in particular introduced a color coded map of hot spots and restrictions on gathering along with reducing opening hours for bars and cafes in an attempt to slow the virus spread. No one is willing to return to the hard lockdowns that were in place in the spring but even smaller measures like these will curtail growth. We’re ... (full story)