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Deutsche Bank Take Profits on EUR/USD Long

USD
  • Deutsche Bank take profits on their long EUR/USD trade recommendation. They write that for the EUR to continue to rally, it is now much less about the ECB staying hawkish but rather the Fed pivoting dovish.
  • While risk aversion ahead will still result in a weaker USD, it may be more concentrated in gold, JPY, CHF and EUR. Additionally, a turn dominated by stable equities and a soft-landing in the labour market, will allow for much broader dollar weakness.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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