In the past three weeks, we have seen a bit of ‘a perfect storm’ against our call for a weak Euro. Hawkish comments from the ECB President Draghi on the limited room the central bank has to further cut the interest rate, a stronger-than-expected Euro area inflation print, a dovish FOMC meeting and Chair Yellen’s recent speech, and increasing concerns around the outcome of the upcoming referendum on the UK’s membership in the European Union have pushed the EUR higher versus the USD and the GBP by about 3.5%. The strong employment report released this past Friday has not been enough to halt this trend and it is ... (full story)