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Apr 09 - 10:55 AM

EUR, CHF: Recent Unwinding Of EUR- And CHF-Funded Carry Trades Has Largely Run Its Course - Credit Agricole

By eFXdata  —  Apr 09 - 09:30 AM

Credit Agricole CIB Research expects a resumption of the selling pressure on EUR and CHF.

"We believe that a significant part of the recent move is due to a short squeeze in a number of EUR-crosses which is particularly evident in EUR/GBP and EUR/USD as well as in some hitherto popular EUR-funded carry trades like short EUR/CAD," CACIB notes.

"In the near term, we think that the recent unwinding of EUR- and CHF-funded carry trades has largely run its course and selling pressure on the two low-yielders can return," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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