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Mar 05 - 06:55 AM

EUR/USD - There's Only One Way To Trade EUR/USD When It's Not Moving

By Jeremy Boulton  —  Mar 05 - 04:45 AM
  • When currencies are quiet the importance of interest rate grows

  • Rate divide between U.S. and eurozone weighs EUR/USD

  • EUR/USD has been confined to tight ranges for past year

  • Drop at end of 2023 followed by similar sized rise start 2024

  • Centre of this year's EUR/USD 1.0695-1.1047 range is 1.0871

  • Centre of last year's 1.0448-1.1276 range is 1.0862 - last 1.0855

  • 2023 range is second smallest since euros inception

  • To mitigate FX risks investors would need to sell strength

  • Little time has been spent over 1.10, far less above 1.11

  • Specs long throughout past year guaranteed losses via interest rates

Source:
Refinitiv IFR Research/Market Commentary

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