Forex Flash: EUR sell into rallies – Rabobank

FXstreet.com (Barcelona) - The euro is inching higher on Friday, as uncertainties in Cyprus are escalating ahead of today’s parliamentary vote on the permanence of the country in the euro bloc. In addition, the single currency seems to pay no attention to the recent lacklustre data from PMI prints and this morning’s IFO indicator.

“However, going in the weekend we would anticipate that many investors will not want to keep too much risk on the table. If uncertainties persist beyond Monday in Cyprus there is even a greater risk of a move onto safe haven assets into next week’s long Easter weekend. Consequently we favour selling EUR/USD, EUR/JPY and EUR/CHF into rallies”, recommended Jane Foley, Strategist at Rabobank.