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Nov 26 - 01:55 PM

EUR/USD - Likely To Grind Higher As USD Is Not So Safe

By Jeremy Boulton  —  Nov 26 - 09:53 AM
  • EUR/USD rising 1.1205-97 EBS today after setting 2021 low at 1.1186 Nov 24

  • First minor correction target at 1.1305 almost met nL1N2SH0DH

  • Traders are short EUR/USD which erodes dollars safety

  • EUR that they are short of is also a safe asset

  • Currency traders will put profits first nL1N2SH0EE

  • Some have tipped month-end USD sales due to bond/stock rebalancing

  • Dollar may come under more pressure when U.S. traders return next week


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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