Euro bulls were left wondering whether the shared currency can regain its footing after falling to a 3-month low versus the dollar on Thursday and continuing lower on Friday. The move came after the ECB announced it would cut its bond buying program from 60 billion euros ($69.9 billion) to €30 billion a month starting in January, while also extending the purchases, which had been due to end this December, until September.  Bets on a rising euro remain a “super crowded trade, so I don’t think this move will just reverse again tomorrow,” argued Said Haidar. The euro also weakened against the Japanese yen falling to a seven-day low of ¥132.17 on Friday, which is a similarly crowded trade like the euro-dollar pair.

 

Read the full article online here.

More News