Flash: Recycling of petrodollars might be EUR positive – RBS
FXstreet.com (Barcelona) – The recycling of petrodollars by reserve managers such as Saudi Arabia, according to Greg Gibbs, FX Strategist at RBS, could be EUR positive. The Strategists believes that “part of the reason for this may be that the Fed often sees higher oil prices as a reason to cut rates and the ECB sees them as a reason to hike” Gibbs adds.
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