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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