The only way is down
Concerns about the national finances of some eurozone countries continue to have a tight grip on EUR/USD. Consternation is growing among market participants that the euro is only a fair weather currency. Even if we do not share this extreme view, we will have to adjust our EUR/USD outlook due to the recent developments.
At present there is only one way for EUR/USD, and that is down. The euro has not been the same since the recent crisis surrounding Greece, in particular as a glance at the credit
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