Europe outlook, EUR deriving little support - BTMU

FXstreet.com (London) - Lee Hardman, FX Strategist at The Bank of Tokyo-Mitsubishi UFJ, Ltd noted the euro is under modest downward pressure in the near-term against both the US dollar and pound.

Key Quotes:

"The easing of intense selling pressure in emerging markets has coincided with a weaker euro perhaps reflecting that investor repatriation flows back into the euro-zone have eased".

"The euro also appears to be deriving less support from further evidence of strengthening cyclical momentum in the euro-zone".