EUR/USD is down to the lowest level in more than two years
What is better, to take a proactive approach or to wait and see in hope that the worst scenario won’t meet the reality? The Fed prefers the first approach, lowering the rate as a preventive measure; the Germany’s government sticks to the second one, suggesting the approaching recession be the bottom, following which there will start U-shaped recovery. As a result, all the responsibility is left to the ECB that is expected to launch a massive monetary stimulus in September.
Germany, with its permanent budget surplus, has much…
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