EUR/USD: Finally a short-covering bounce; Long EUR/JPY preferable - SocGen
From Kit Juckes at Societe General:
With Thanksgiving on Thursday, this will be a reduced week, which may be a recipe for short-covering. But if the euro does bounce, I'd rather be long EUR/JPY or EUR/GBP than EUR/USD.
With relative yields and the global risk mood bother favouring yen weakness, EUR/JPY can have a short-term rally, and indeed, in the faraway future when the French elections are behind us, long EUR/JPY looks like a very attractive long-term long trade.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
