In his latest Macro View, Richard Jones, an FX strategist who writes for Bloomberg, explains the resilience behind the common currency which has ignored every adverse piece of news thrown at it, and identifies the one main reason it keeps “deying the doomsayers.”
Euro Can Keep Defying Doomsayers, Thanks to Draghi
The euro rally is sustainable even amid the latest flare up of European political uncertainty.
A buoyant macro-economic environment partially explains the resilience, but most credit should go to the backstop offered by the ECB.
This post was published at Zero Hedge on Oct 12, 2017.