Analysts at Scotiabank explained that EUR/USD gains have moderated somewhat this morning despite the ongoing turmoil in Washington.
"Sharp falls in US stocks this week have been out-paced by even sharper declines in European equities so far this week which may help slow EUR gains."
"Spread have narrowed but remain below recent highs (for the 2Y yield differential). ECB GC member Jazbec told the WSJ today that policy makers were not ready to unwind QE, stating that “none of us are ready to declare victory” (over low inflation). French unemployment fell to 9.6% in Q1 (from 10% at the end of last year)."
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