MUFG stays short EUR/USD in its trade of the week – targeting a drop under 1.08 | Forexlive

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• “We instigated this trade idea last week following the failure of EUR/USD to maintain levels above 1.1000 and given the ongoing resilience of US yields as US economic data continues to show limited signs of a slowdown or recession. Nothing has changed this week to justify closing this position and we see a continued gradual move lower”

MUFG is targeting a move towards 1.0770, with a stop at 1.1160

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Mitsubishi UFJ Financial Group is the world’s second-largest bank holding company and second-largest public company in Japan.