5 Mar 2014
Flash: EUR is a dog - BBH
FXStreet (Guatemala) - Noting the price action of the EUR in Europe which has since picked up, albeit still within negative territory, Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman said, "The euro is a dog".
Key Quotes
"The euro is a dog. Instead of deriving support from the easing of tensions in Ukraine/Crimea and the best euro zone service PMI since June 2011, as well as a surge in January retail sales (1.6%, reversing the revised 1.3% decline in December), the euro has been sold to new lows for the week and nearing the low seen before last week's February inflation report (~$1.3695)."
Key Quotes
"The euro is a dog. Instead of deriving support from the easing of tensions in Ukraine/Crimea and the best euro zone service PMI since June 2011, as well as a surge in January retail sales (1.6%, reversing the revised 1.3% decline in December), the euro has been sold to new lows for the week and nearing the low seen before last week's February inflation report (~$1.3695)."