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Feb 08 - 06:55 AM

EUR/USD - Going Nowhere Fast - That's Important

By Jeremy Boulton  —  Feb 08 - 05:15 AM
  • EUR/USD has been rangebound for a long time

  • Centre of extremes traded since start 2021 is 1.0938

  • Middle of widest points since July 2023 is 1.0862

  • Mid-point of Oct-Dec 2023 rise is 1.0794

  • Feb 8 range is 1.0788-86 EBS, one month vol suppressed at 6.2

  • Lack of direction for most heavily traded pair will influence wider trading

  • Low vols suit carry trades & specs may pare bets on euro rising nL1N3ES0P3

  • Logically Japan's yen will come under more pressure nL1N3ET0OA

  • Much cheaper gas prices may underpin the euro nL1N3ET0R5

Source:
Refinitiv IFR Research/Market Commentary

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