(Bloomberg) — The forces behind the euro’s recent strength suggest this may only be the first stage of a big market shift.The currency’s 3% rally this month to near $1.16 has come on the back of dollar weakness due to narrowing bond-yield differentials and the U.S. struggle to deal with the pandemic, as well as the prospect of increased cohesion in the European Union after its agreement on a recovery fund.These factors remain very much in play. Yet what makes the case for the rally to extend further is that market positioning remains largely underweight on the euro. A structural …read more
Source:: Yahoo Finance
