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Thomson Reuters
Jun 27 - 08:36 AM
EUR/USD - Bears Depend On Risk-Aversion Not Boiling Over
First appeared on eFXplus on Jun 27 - 06:15 AM
  • EUR/USD eases below Asia's 1.1640-65 range to hit 1.1622 in Europe
  • Selling largely driven by bearish techs after pair capped near key fibo
  • Jun 26 high 1.1722. 1.1721 is 61.8% of drop from 1.1853 since Jun 14 ECB
  • Tech traders badly need China/US spat not to fuel a real risk-off move
  • Current EM/stock moves are negligible while tech shorts are risk-on trade
  • Risk aversion will boost EUR as safe asset and likely winner US/CN friction

Source:
Thomson Reuters IFR Markets

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