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3 Oct 2013
Flash: EUR/USD reaches yet another cycle high - BMO Capital Markets
FXstreet.com (Barcelona) - Greg Anderson, Global Head of Currency Strategy at BMO Capital Markets notes that EUR/USD reached yet another cycle high in the overnight session and now seems more solidified circa 1.36.
Key Quotes
“Today’s move higher in EUR has apparent fundamentals behind it in the economic data released this morning, which continues to support the notion of a robust economic recovery.”
“And for a change, the Scandinavian currencies are finally now acting like high-beta versions of EUR. Both rallied more than 0.5% overnight without any major local news.
“NZD was the biggest loser in overnight trading despite hawkish rhetoric by the RBNZ at the start of the session. JPY was also a noteworthy loser in overnight trading, with USD/JPY pressuring its way back up toward 98 despite equity futures pointing towards a lower open.”
Key Quotes
“Today’s move higher in EUR has apparent fundamentals behind it in the economic data released this morning, which continues to support the notion of a robust economic recovery.”
“And for a change, the Scandinavian currencies are finally now acting like high-beta versions of EUR. Both rallied more than 0.5% overnight without any major local news.
“NZD was the biggest loser in overnight trading despite hawkish rhetoric by the RBNZ at the start of the session. JPY was also a noteworthy loser in overnight trading, with USD/JPY pressuring its way back up toward 98 despite equity futures pointing towards a lower open.”