The Euro (EUR) has rebounded firmly from yesterday’s dip to the low 1.16s and is threatening a return to a 1.17 handle as out session gets going, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Focus on Trump/Putin talks
"Focus on today’s Trump/ Putin meeting may be helping the EUR outperform many of its peers somewhat amid hopes that talks can pave the way for some sort of peace deal for Ukraine."
"The EUR’s broader August rebound remains intact, with the market carving out a succession of higher highs and higher lows following the brief August 1 dip under 1.14. Support intraday is 1.1640, ahead of 1.1590/00. A push through this week’s high at 1.1730 should pave the way for a retest of the upper 1.17s."
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