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Forex Flash: Crush the EUR/USD up against the wall - Societe Generale

According to Sebastien Galy, currency strategist at Societe Generale, the outlook of growth "is neither too hot nor too cold keeping the Fed on hold and UST 10 year yield still well contained in their current regime" he says.

He notes that a possible breakdown of this relationship "will eventually happen in H2", but till then, current environment "still supports the risk on even if deeply overstretched on usdjpy and eurjpy." He also suggests to keep buying dips on EUR/USD, with the amusing quote of taking advantatge of present conditions to "crush the eurusd up against the wall."

Forex: EUR/JPY limited below 127.00 around fresh 32-month highs

EUR/JPY is currently at 126.80, off recent session highs at 126.87, few pips shy below record 32-month highs printed Friday at 126.98, highest since April 15 2010. The cross is higher both on combined Euro strength, strongest currency among majors in last few trading days, and Yen weakness, weakest among all majors, by a big margin.
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