The Euro-Zone is the largest monetary union in the world and the Euro is one of the most popularly traded currencies in FX. Throughout history there have been numerous times the euro has been used as a funding currency during times of global economic uncertainty. Historically, Switzerland has been a major banking center and a haven for funds across the globe. However, this status is in question due to stricter financial regulations.
The Euro fell back last week for no reason in particular, suggesting that the recent bull run may be exhausted. Looking ahead, strong economic data may not provide the upside fuel it once did as net-long Euro positioning is extremely stretched again.
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