This is probably one of the most interesting notes we have seen so far this year. In a lengthy note today, Commerzbank's FX strategist, Ulrich Leuchtmann argued that the rationale behind Goldman Sachs' long EUR/USD recommendation which moved the market yesterday is simply based on naive and absurd perspectives. Here is the note by CB (Goldman is referred as a large US investment bank): I have been observing the FX market for 15 years now. Often I tend to believe that over this period I might have seen everything there is to see and that nothing would surprise me any longer. But every so often I do get a surprise. As ... (full story)