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A Consistent but Slow EURUSD Slide May Turn Into a Euro Cascade
The Euro has found itself tipped into a painful retreat over the past five weeks - but really only against the US Dollar. The world's second most liquid currency has certainly lost ground against a number of its other major counterparts over the same period, but the progress has been mainly concentrated to pairs where the foil has leveraged a particularly intense rally of its own. When you extract the Euro's performance from a pair like EUR/USD, we find that currency has more or less spent the past six months carving out a broad range. This resilience and lingering strength defies more recent fundamental evaluation. ... (full story)
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