ECB meeting: Buy dollars with Euros!
By Peter Rosenstreich, Swissquote
The doves won. The European Central Bank’s deceleration of bond buying to €30 billion a month from €60 billion is meant to prop up European economies, and it signals no interest rate hike until 2019.
The hawks have been rumbled: the overstretched Euro is likely to unwind. We remain bullish on USD, due to its (hawkish) policy divergence versus the emerging markets, the Japanese yen and now the Euro.