Forex Flash: Euro strength persists – Societe Generale

FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the Euro has continued to strengthen today as all eyes are falling on US payrolls.

He sees that this mornings European PMIs came out this morning and were broadly positive. He is expecting a higher Euro Zone unemployment and more reminders that a strong Euro is unhelpful for the economy and causes increased divergence within the Euro Zone. Juckes feels that at some point, this will feed through to political outrage at the Europe's rally and speculation that the ECB will, at the very least, tone down remarks, however, he feels that investors are underweight Euro assets and are still being squeezed in.