“Stairway To Seven”: Why Deutsche Expects FX Turmoil This Summer

Original post

In a lengthy FX report published this morning by Deutsche Bank strategists George Saravelos and Shreyas Gopal, the duo – which like most others on Wall Street failed to predict the escalation in trade war between the US and China – issued a gloomy prediction, namely that “rhe outlook for the summer in our FX Blueprint is not particularly bright.”

As the DB strategists admit, “two of our key assumptions from January – an easing of trade tensions and a resolution to Brexit – have not materialized” even as “geopolitical storm clouds are gathering in Iran.” And so, with Europe and especially Germany – “particularly exposed to global risks we are abandoning our positive view on the euro and see

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