Cyclical euro/dollar drives Danske
Tobias Thygesen, Copenhagen-based senior analyst, FX research at Danske, told FX Week the bank's fundamental approach to EUR/USD is that the cross has primarily been driven by cyclical shifts rather than by more structural issues such as reserve diversification or current account worries.
The euro dropped below $1.33 in June, from a high of $1.368 in April, coinciding with strong economic news from the US, but the Danish bank predicted the dip had run its course.
"With no sign of a continued
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