John Taylor of FX Concepts is on Bloomberg. He has long felt the US was headed for recession and he looks to be on target.
Despite the risk of a downturn the USD remains the reserve currency and he is beginning to like it, he says. He sees a weaker EUR/USD ahead.
Japan may intervene, Taylor says. HE sees EUR/USD between 1.41 and 1.45 this month…
EUR/USD is well-supported at the moment, up at 1.4240.
