Flash: EUR riding the risk appatite- BMO Capital Markets

FXStreet (Guatemala) - Stephen Gallo, European Head of Currency Strategy at BMO Capital explained in the FX majors, the recovery in ‘risk appetite’ since the start of the weak has basically collided with the squeeze in short EUR positions

Key Quotes

"In the FX majors, the recovery in ‘risk appetite’ since the start of the weak has basically collided with the squeeze in short EUR positions following the ECB’s restraint on policy yesterday".

"As such, EUR/USD was higher again, but this collision of forces was most apparent in a very well offered JPY, with good bids in EUR/JPY continuing to drag the rest of the JPY crosses higher."