Euro appreciation to slow, says BMO Capital Markets

Canadian bank sees dips in EUR/USD as buying opportunities, given US dollar is in medium-term downtrend

Photp of a broken euro coin
Euro appreciation to slow from here, BMO Capital Market

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While weakness in the euro, following the result of the elections in Germany, was largely due to the unwinding of crowded long positions rather than a change in sentiment, the pace of the spectacular rise in the single currency is set to slow, says Stephen Gallo, European head of FX strategy at BMO Capital Markets.

The euro dipped to a one-month low against the dollar on September 26, the day after the German results, pausing the rise of more than 10% seen in the

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