ANB AMRO FX Strategy Research expects that the EUR rally will run out of steam in the near term on the back of the following 3 reasons. "1- For a start, we expect ECB President Mario Draghi to dampen expectations about early rate hikes. The ECB is concerned that tapering will trigger a tightening of financial conditions and seems focused on tapering without triggering a tantrum. 2- Moreover, recently the yield spread between the US and Germany has widened a bit again, while EUR/USD has continued to be strong. We think that the yield spreads (nominal and real yields) do not justify EUR/USD being at current ... (full story)