EUR: recommend maintaining an EUR bullish bias - Nomura

Analysts at Nomura explained that European politics continue to generate headlines, and short-term EUR volatility around developments is possible.

Key Quotes:

"However, we expect the impact of Spanish and Italian political developments on EUR to be much more muted than the impact of the French political uncertainty earlier this year. Thus, we recommend maintaining an EUR bullish bias, and we recently added EUR long exposures via an EUR/JPY digital call and EUR/NZD long positions in cash. We would highlight the greatly reduced sensitivity EUR/JPY to the peripheral spread at the moment than earlier this year."