EUR/USD remains heavy near this week’s lows, BBH FX analysts report.
Current account surplus is a natural source of underlying demand for EUR
“However, encouraging Eurozone fiscal developments, and the favorable balance of payment backdrop suggest EUR/USD will find good support at its 200-day moving average (1.0726).”
“The Eurozone current account surplus totaled 2.7% of GDP in January vs. 2.8% in December. Still, the current account surplus is large by historical standards and is a natural source of underlying demand for EUR.”