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Jul 11 - 11:00 AM
EUR/USD: Position-Squaring Upside Risk Firmly Intact - Credit Agricole
First appeared on eFXplus on Jul 11 - 09:20 AM

Credit Agricole CIB discusses EUR/USD outlook and adopts a tactical bullish bias.

"If anything, central bank members should continue to explain that there is rising confidence in inflation converging back to target even though patience stays needed.

Even though such remarks are unlikely to have any material market impact, we expect the single currency to stay subject to upside risks. This is largely due to still elevated EUR short positioning, which is keeping position squaring upside risks firmly intact," CACIB argues. 

Source:
Crédit Agricole Research/Market Commentary

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