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USD a strong bid against the euro - BBH

Analysts at Brown Brothers Harriman explained that the highest US two-year yield since Q4 2008 and the largest premium over Germany since the late 1990s has been insufficient to give the greenback a strong bid against the euro.   

Key Quotes

“The euro will begin the new week with a four-session advance and a three-week rally in tow.  It has traded above the mid-October high and key retracement objective found in the $1.1880-$1.1885 area.”

“Technically, it suggests a return to the early September high near $1.2090.  Above there, the 50% retracement of the euro's decline since the mid-2014 peak is found near $1.2165-$1.2170.  This area also appears to correspond to a measuring objective of a possible head and shoulders bottom pattern in the euro.   A note of caution comes from the fact that the sharpness of the euro's advance as left it above the upper Bollinger Band.”   

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