Huge Demand for Euro-Denominated Safe Assets

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Last week the Euro surged across the FX dashboard. It started to trend higher already from Monday’s opening and closed the week at the highs. The entire week was bid on every dip, a phenomenon seen on most Euro pairs (e.g., EURUSD, EURGBP, EURJPY).
The strong demand for the Euro came as no surprise. For the first time in history, the European Commission raised money from international financial markets in the form of 10y and…

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