Flash: Pressure from reserve managers to buy EUR/USD may fade today - Societe Generale

FXstreet.com (Barcelona) - According to Sebastien Galy, FX Strategist at Societe Generale, "reserve managers were probably busy buying EURUSD into month end last Friday, suggesting this pressure will fade today, though a few may rebalance..."

More broadly, Galy suggests that "the strength of the EUR suggests it remains very much in fashion for asset allocators to pick up credit, with credit in European financials is crossing below their US counterparts."