Euro registered sixth gain in last eight weeks against dollar – BBH

Analysts at BBH explain that the euro appreciated for the sixth week of the past eight as nearly three-quarters of the 0.7% gain on the week were scored on the back of the disappointing US jobs report.  

Key Quotes

“Before the weekend, it posted its highest close since last September, as works its way closer to the spike high last November ($1.13).  The strength of the close warns of risk of a gap higher opening in Asia on June 5.  Given the proximity of $1.1300, current volatility, and momentum, an upside break cannot be ruled out.  A break of $1.1300 could signal a move to $1.1400-$1.1425.”