EUR performing 'poorly' - here's why
This is a small item via ING on the euro, bolding is mine and something to be aware of ahead:
- EUR is performing pretty poorly
- even though many asset classes are starting to price in a more positive trade environment
- We think this FX performance represents the emergence of the EUR as a preferred funding currency on the view that interest rates in the eurozone will remain at rock bottom throughout 2020
- Supporting this view should be German 3Q19 GDP data released on Thursday, which may well show a technical recession.
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