Search
 

Euro Bulls Emboldened

Currency surged after ECBs Draghi downplayed deflation, clearing multi-month roadblocks.

By Katherine Greifeld, Andrea Wong and Vassilis Karamanis, Bloomberg | Updated on June 28, 2017

It took six attempts for the euro to break the $1.1300 resistance level this month. One day after breaching the barrier, the common currency is fast approaching the next line in the sand amid a rally that now has analysts pondering what it will take to slow the best-performing major currency this quarter.

For chartists from JPMorgan to RBC, there are few obstacles remaining before the euro lifts off in a sustained rally amid fading political risks and a monetary policy shift on the horizon. With the $1.13 post-U.S. election high giving way, $1.1428, a level last reached as traders awaited the result of the U.K.’s vote to leave the European Union a year ago, remains one of the last lines of defense for euro bears before the common currency advances to the $1.17 area last seen in August 2015.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.