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Forex pairs in this Article » EUR/USD
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, notes the EUR/USD might be heading towards the upper end of the 1.34-1.38 range.

Key Quotes

"Overnight news is dominated by the prospect of Italy's PM Enrico Letta resigning, but the BTP market doesn't give a hoot and the Euro therefore remains unbothered. Domestic politcs no longer affects European bonds, thanks to Mr Draghi and with spreads range-bound the driver of the currency is the relative US/European rate spread, which is moving in the euro's favour after the soft US retail sales data and the slightly stronger thane expected GDP figures across Europe this morning."

"I imagine my equity colleagues will shortly be re-asserting their positive view of European stocks vs the US as these data emerge. EUR/USD is in a 1.34-1.38 range, and is going to look at the top end. That in turn drags GBP/USD to the top end of the post-Lehman 1.40-1.70 range."
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