FX In-Depth: EUR bids sighted at 1.0450 -1.05, GBP a reserve currency - ActivTrades

Neal Kimberley, Currency Analyst for ActivTrades says there are more reasons to sell the Euro than buy Euro, but adds that exporter demand is seen in EUR/USD in the range of 1.0450-1.05.

The steady drop in the EUR/USD is not a strong dollar story, but is a weak EUR story, which is evident from the weakness in the EUR crosses, most notably in EUR/GBP, EUR/JPY.

Kimberley says, “Farther we (UK) get from Europe (Brexit), the stronger would be the appeal of Pound as a reserve currency”.

Listen to the full segment as Kimberley offers insights into the central bank activity, exporter/importer activity in the FX markets, coupled with fundamental and technical pointers.

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