EUR still points south – Danske Bank

FXStreet (Edinburgh) - Allan von Mehren, Chief Analyst at Danske Bank, notes the persistent bearish stance on the single currency.

Key Quotes

“In G10, the DXY Index weakened slightly on Friday, as tensions in the Middle East shifted some of the geopolitical risks away from Europe”.

“Given the extent of short EUR and JPY positioning, this squeeze can have further legs”.

“Fundamentally, nothing has changed and we expect EUR/USD to grind lower in coming months”.