EUR/USD: Steady above 1.3000 as Sovereign buyers return
Sovereign buyers returned to the EUR/USD when it broke below 1.3000 earlier in the week and this has stabilised the pair after quite a sharp fall in recent weeks. Banks expect end-of-month demand for both the EUR and the USD which should nett out in all liklihood. The crosses also look reasonably steady with EUR making decent gains against the GBP and the CHF.
I’ve got no strong views on EUR/USD but I do think that buying bigger dips to 1.2900/25 will work out to be a good longer-term strategy.