A long and wrong market could see EUR/USD back to 1.1750
Bloomberg report overnight on European Central Bank Executive Board member Philip Lane speaking, saying the rate euro rate "does matter" for monetary policy.
Lane speaking up about the strength of the EUR is the ECB expressing some concern about the strength of the currency.
Scotia bank comments on the remark from Lane and the response of the euro (EUR/USD fell back under 1.20 and almost to 1.19 again):
- this is the 'first real push back from the ECB'
- "The market is very, very long euro" which could set up a test down to 1.1750.
Scotia comments via Bloomberg