EUR/USD has been relatively quiet as attention focuses mostly on the yen, but that will soon change with the pair taking out the January high at 1.2537. The ECB may wheel out board members for verbal intervention, but there's not much they can do given the negatives from the USD side are mounting. Investor fears of a return to the dark days of U.S. twin deficits are generating powerful downward forces for the dollar. In contrast, Germany's current-account surplus remains huge and shows no
signs of slipping. Even fears the Italian elections would sink the euro are rapidly disappearing into the background.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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