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The top contrarian trade in the year ahead? Buy EUR/USD says BoA/ML

Discussion in 'Market News' started by ForexLive, Dec 10, 2015.

  1. ForexLive

    ForexLive Forum Member

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    eFX with BoA/ML comments on EUR/USD It looks much less controversial after the ECB disappointed last week and the Euro squeezed higher. Although we remain bearish EUR/USD in the long term and expect it to weaken to 0.95 by end-2016, our year-ahead report saw upside risks in the short term. The short EUR position ahead of the ECB meeting was not as stretched as it was last March, but it was getting close. Indeed, the price action after Draghi fell far short from market expectations reflected a painful positioning squeeze.

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