Jun 3, 2015
EURUSD: Strong, stronger, euro! Who would have thought at the beginning of the year that we might chose this wording again any time soon. Fuelled by a surprisingly strong core inflation rate in the euro zone (+0.9% yoy) and the hope of an imminent agreement on Greece the euro was able to appreciate on a broad basis yesterday. Tight stop order losses supported the appreciation further. However, the euro was able to defend most of its gains over night; which was also due to the rather dovish comments of the Fed Governor Lael Brainard, which caused notable USD losses.