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How the Carry Trade Could Explain EURUSD’s Counterintuitive Moves…and Why it Matters
Traders the world over have been surprised by the relative resilience of the euro over the last few weeks, despite growing concerns that Greece may default on its debt and be forced to exit the Eurozone (the feared “Grexit”). Analysts have proffered various explanations for the EURUSD’s durability: that the European financial system has had plenty of time to “ring fence” Greece and prevent contagion to other countries, that a last-second deal is imminent, or even that traders are just blithely underestimating the risk and damage of a Grexit. One alternative explanation that we find particularly compelling ... (full story)
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