EUR/USD: Long Euro positions could capitulate in September – SocGen

Why is not the Euro weaker? Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes the shared currency outlook.

Positions are holding Euro up, but for how long? 

We can see EUR/USD trade in a range for a while longer, as long as positions stay where they are. 

But if the economic data don’t start providing support, and relative expectations about Fed and ECB policy don’t move in the Euro’s favour this month, we’re going to see long Euro positions capitulate in September.