Forex Flash: Spanish bonds in focus - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that Europe´s highlight today will be Spanish long dated bond auctions.

He writes, “There really isn't a lot of new news. The euro goes sideways for a while, then falls. Italy's problems aren't solved. German resistance to easier fiscal policy surprises no-one but doesn't help. The risk that 'risk-on' helps the overall mood may be enough to justify receiving GBP vs EUR. EUR/GBP may be temporarily forming a double top and the two trades look OK together.”