BAML: EUR/USD correlation breaks down. What it means

BAML on EUR/USD
Bank of America Merrill Lynch FX Strategy Research notes an unusual break of EUR/USD correlation with risk this week.
"This week European stocks rallied as French election worries evaporated and EUR/USD went up as well. This is unusual. In recent years, EUR strengthened when risk increased, not decreased," BofAML notes.

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