BBH current comments on the euro

BBH analysts note that the euro is moving down after it closed last week just below $ 1.19 and tested $ 1.1730 on the European morning. “It’s about a three-week low. Some pressure comes from the cross of the euro against the pound sterling, where the single currency was sold at a break below GBP0.800, for the first time in six months.
Approximately 540 billion euros expires today, the option at $ 1.1750. Earlier this week, the euro fell to the uptrend line, held from the last month’s low, and then in the middle of the week fell below 38.2% of the November rally (~ $ 1.1805). Today, the euro broke down a 50% correction level (~ $ 1.1760). The rollback of 61.8% is close to $ 1.1710, which also corresponds to the minimum on November 21, “the bank reported.

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