Flash: EUR/USD in trouble? – TD Securities
FXstreet.com (New York) – The EUR/USD is under pressure this morning with safe haven flows and the Fed-tapering theme continuing to benefit the USD, suggests the TD Securities Team.
Higher German unemployment was the only notable fundamental development overnight, and did not help the EUR’s cause, but the flood toward the USD had already seen EUR/USD break below the 1.33 handle earlier on.
“Short-term German-US spreads also continued to widen for a fourth consecutive day, corroborating pressure on the FX spot rate. Looking at the historical relationship of the rate spread and the spot rate over the past …read more