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Forex Trading Themes for the Week of January 11, 2014

Forex Trading Themes for the Week of January 11, 2014

6 Years ago | January 11, 2014 00:00:00


EUR Will Have To Weaken

It might be that the tide may be ready to turn in the markets against the EUR. At the end of 2013, it appeared that a EUR liquidity squeeze kept the unit in demand. It is possible now that with this technicality out of the way that the EUR could start to soften. We were surprised by the intensity of the dovish tone taken by ECB President Draghi. However he is a master talking around a subject. My view is that the ECB has pursued an unnecessarily tight monetary policy for years and as a result has not done nearly enough to promote economic growth throughout the currency area. As a result, the common currency will have to weaken at some point this year if the U.S. finally recovers.
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