DislikedThere will be no LTRO3 and the banks are getting prepared for the next liquidity crunch. So, their assets in Brazil, China, India and/or Russia (or perhaps all of them) get sold off for US Dollars. Those transactions boost the USD against all currencies. Then, when the time is right, those USDs are repatriated back to the European banks and converted to EURs.
Now that that's done, after possibly a little more upside to maybe 1.3160/5 or so, it will be time to rinse and repeat.Ignored
Those who say it cannot be done should not interrupt those who are doing it