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Wealth is being stored in Euros nowadays. Why should it reverse ??
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For example...
- because people like Jiselle Bundchen Mom Pop etc. decided that they should invest in euros...
- because of comments by a Chinese official that the central bank of the world's fourth largest economy would reduce its holdings of USD. Ever heard of a central bank announcing their true intentions?
The counterparty of those Mom Pop positions that built over the last week above 1.47 are few or more of the largest banks I guess. Who has the upper h? Shall EUR continue up those clearing banks be on the wrong side or we go back neutralize Mom Pop's positions?
