The Next Big Move Of The EUR/USD Could Be On The Upside

The 4.7% rise of the Euro against the U.S. Dollar year-to-date has been a negative surprise for the European Central Bank. Although not officially declared, it is undeniable that a devaluation of the Euro was at the heart of the ECB’s strategy to support economic growth and reduce deflationary pressures. Moreover, the latest ECB monetary policy easing on March 10th did not have the effect to weaken the Euro: the EUR/USD has risen from 1.1177 to 1.1392. It is a sign that the ECB must implement still more unconventional measures if it wants to weaken the currency.
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