Even after a rally since April, the euro is still cheap, according to Bloomberg economists David Powell and Dan Hanson. A fair value model created by Bloomberg Economics shows some appreciation was due, and the real effective exchange rate on the currency is still below that justified by fundamentals. A
country breakdown suggests it’s too weak for France and Germany and too strong for Spain and Portugal, given the state of their economies.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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