EUR & GBP not strong in their own right

There is plenty of action in the is currency markets lately, mainly due to the recent weakness in the USD.

In turn, the GBP and EUR have strengthen against the US Dollar.

Whilst thinking that the EUR/USD has “no business” trading at 1.18, I decided to look at the EUR/GBP cross when I saw that it has idled within a 2 cent range for 2 months.

So it’s confirmed, the Euro and Sterling are not “strong” on their own merit.

They have indeed only risen due to USD weakness.

#usd #eur #gbp #currencies

30 July 2020
by Rob Zdravevski
rob@karriasset.com.au

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