Economists at the investment bank have "a tactically negative view on EUR ahead of the June" European Central Bank meeting.
- US-China trade war to continue as a negative for the euro
- On today's stay of execution on auto tariffs - GS say a delay was their "base case"
- ECB is closer to easing than the Federal Reserve is
- If EM central banks use reserves to defend their currencies, they may need to sell EUR/USD for portfolio rebalancing
- Support from EUR has come from covering of EUR-funded emerging-market carry trades
