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5 Reasons To Stay Long EUR/USD Targeting 1.34 S/T - BNP Paribas
EUR/USD is currently benefiting from a weaker USD backdrop as well as the resolution to the political uncertainty in Italy. This ongoing rally in EUR/USD, according to BNP Paribas, has still a further room to run over the coming days driven mainly by the following 5 reasons as outlined by BNPP. First, the FOMC tomorrow should reaffirm current policy stance and considerations of any QE tapering should be pushed back. Second, the market has built up sizeable long USD positions driven by expected outperformance of the US recovery and tapering of QE. Other measures, like futures positioning (scaled by open interest) on ... (full story)
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