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Mish Mailbag: Why is the Euro Still Rising? When Will it Stop?

Courtesy of Mish.

In response to Tapering All Talk No Action, Expensive Valuations, Duration Risk reader David is wondering about the Euro.

David asks “Can anyone explain why the Euro is still rising in value against US dollar, nonstop? When this will end?”

Hi David, this was expected, at least at this end. Rather than play the Euro which I do not like for numerous reasons, I have been long the pound.

I went long the pound on October 7, after the pound’s big Brexit crash. Peter Atwater had this pertinent Tweet on sentiment about a month earlier.

Investors “bracing for horrific consequences” suggests a major low in the British pound is near. Fear-filled delusion marks the bottom.

— Peter Atwater (@Peter_Atwater) September 10, 2014

I believe that “like” was mine.

I am not sure when I first mentioned being long the pound but I commented on it on December 14, 2016 in Saxo Bank CIO Bets on Weaker Dollar, Cites Blowout Equity Bubble.

Pound Weekly

Both FXStreet and Investing.Com have good chart tools.


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