In a note to clients today, Bank of America Merrill Lynch looked at key EUR determinants and discussed the reasons behind the current resilience of the single currency and its outlook for the rest of the year. Widow-maker is back? "Life has not been easy for Euro bears. Shorting the Euro was a “widow-maker” in the years before May 2014. It was one of the best FX trades from May 2014 to March 2015. And it has been going nowhere since then, with EUR/USD stuck in a narrow range. More recently, the Euro has remained relatively resilient, despite a substantial deterioration of the situation in Greece," BofA notes. Why ... (full story)