Bullish euro benefits Scotia Capital
Scotia Capital's three-month euro outlook was primarily based on a macro theme. The bank believed that Europe was continuing to grow above trend, at a time when the US cycle had already begun to moderate.
"This positioned the euro for continued interest rate support, as the European Central Bank was continuing to hike interest rates and the US was moving closer and closer to entering an easing campaign," said Sutton. "Accordingly, yield spreads between the US and Eurozone were expected to move
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