Euro outlook - "more attractive and cheap against the likes of the dollar"

MUFG are seeing imporovement in Europe (relatively:

• In comparison to even a month or two ago, the outlook in Europe has improved significantly
• that makes the euro look relatively more attractive and cheap against the likes of the dollar
• We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse.