FX Markets - A Brief Assessment
Hopes for a vaccine have undoubtedly improved sentiment, yet I think markets have been reacting disproportionately since yesterday. Ignoring an unprecedented recession prematurely would be unwise. At present, the danger of risks being underestimated is immense. Unsurprisingly, the Franco-German proposal has generated doubts and criticism, thus highlighting the EU's disunity. As the proposal must be approved unanimously by all 27 EU states, hope could soon be nipped in the bud. Beware of buying the EUR prematurely.
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