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Euro could drop another 10%, below $1; UK pound also 'unbuyable' - SocGen

European Union Currency Symbol

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Pressure on the euro and the U.K. pound will continue, with little to spur buying interest after a sharp selloff to start the week, according to Societe Generale.

Here "we are, with recession fears firmly to the

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Comments (5)

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To think the Italian 10 year bond still trades for just 3.4% yield and the Greek 10 year bond at 3.5% is just laughable. I wouldn't touch either of those two bonds for anything less than 20% yield. The eurozone debt bubble was propped up by the ECB quadrupling their balance sheet in just 10 years. With the ECB stopping net purchases from this month onwards, let's see how the market prices this debt now that the biggest liquidity partner isn't slurping up the debt no matter the yield.
vooch profile picture
My guess is this is driven mostly by Interest Rate arbitrage. Fascinating to buy Euro assets at a 20% discount simply due to short term interest rate deltas.
Value Digger profile picture
Due to the ongoing turbulence in Europe on many fronts, there is no question that pressure on the euro will continue.

Long term support for euro-dollar is at about 0.85 and we will likely see it there by 2023.
We've heard this story before, remember "uninvestable" Chinese stocks? Those stocks are UP from when they're called uninvestable.
SuperPac profile picture
Britain: The Bo Jo govt is toast. The horrible fat clown ain't gonna last. The rates will have to go up. Otherwise the £ will crash further. Its down a lot already.

Eurozone: faces stupid politicians, some evil too. De-industrialisation. Demise of agri. etc. EURO is almost on par with USD. Worse days ahead. ECB dithering way too much on rate rise. Its the economy of freebies and controls and regulations.

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