Forex Flash: We stay skewed towards a lower EUR - Societe Generale

FXstreet.com (Barcelona) - Global markets are still in a sweet spot says Sebastien Galy, senior currency strategist at Societe Generale, who argues that hopes of "easy money and pro-growth policies are failing to depress equities..."

However, as Mr. Galy adds: "The Fed and, more importantly, the ECB may well disappoint. The ECB needs to deliver more than just a 25bp rate cut to keep the peripheral rally going. In this context, we warn against building up aggressive risk-on trades in FX space. We stay skewed towards a lower EUR."