All that talk for nothing
Policymakers agreed to look through the euro's recent strength, according to a leak to Reuters from the ECB.
It makes sense. The euro has rapidly risen but 1.20 is far from some sort of crippling level.
At the same time, what are currency 'fundamentals' right now? How much the central bank is monetizing is the only game in town.
The longview on the euro shows it right in the middle of the range. If you just look to the post-1999 era, it's still discounted.
