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19 Feb 2014
Flash: EUR/USD lifted by sentiment - UBS
FXStreet (Córdoba) - The UBS analyst team notes that the recent spike of EUR/USD is driven by the clearing of existing long-USD positions rather than a fundamental new trend.
Key Quotes
"Markets are currently questioning the sustainability of the US economic upswing. We still see a lot of evidence that bad weather caused some negative macro-economic surprises, and that there is no structural downturn in the US economy".
"Therefore we believe that the recent spike of EUR/USD is driven by the clearing of existing long-USD positions rather than a fundamental new trend".
"We still recommend medium term investors to sell the rallies in EUR/USD".
Key Quotes
"Markets are currently questioning the sustainability of the US economic upswing. We still see a lot of evidence that bad weather caused some negative macro-economic surprises, and that there is no structural downturn in the US economy".
"Therefore we believe that the recent spike of EUR/USD is driven by the clearing of existing long-USD positions rather than a fundamental new trend".
"We still recommend medium term investors to sell the rallies in EUR/USD".