FXStreet (Barcelona) – According to Kit Juckes of Societe Generale, the bund/treasury spreads remain supportive for further EUR/USD gains.
Key Quotes
“There is no catalyst for EUR/USD to fall back unless amnesia fades and we remember the implications of the US data. That seems unlikely, whereas stronger German labour cost data is yet another sign of stirrings in the heart of the Euro area.”
“The technical folks tell me that it takes a close above 1.1315 to signal a test of the March 1.1470- high. The Bund/Treasury spread tells me there’s a fair chance of that happening.”
(Market News Provided by FXstreet)