One of the big themes that is dominating the FX market as of late is the strength and resilience of the EUR amid a relative risk-averse environment, notes Credit Suisse. A main reason behind this, according to CS, is that unlike EUR “version 2010-13” where it still traded as a pro-risk and pro-carry currency, “version 2015” is very much perceived as a funding currency and funding currencies tend to do better when the market has to worry about risk. "We suspect that the EUR’s status for much of this year as a “short” or “funding currency” is now working in its favour as investors throw in the towel on ... (full story)