King Euro

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Considering the trajectory that Europe and the PIIGS were on back in 2010, I thought the EUR/USD would be making its way down to parity. Ever since July 2012, however, the Euro has been gaining persistent strength against the US dollar. This probably says more about the dollar than it does about the Euro, but it’s surprising to see that the EUR/USD is so strong that it’s bursting above its long-term descending trendline.

0312-eur