Based on its latest analysis for flows and positioning data, Bank of America Merrill Lynch FX Strategy Research notes that USD selling and EUR buying from the investor community has been intact but offset to a large extent by corporate and official sector flow so far this year.
Into the end of March, BofAML data showed that the positive EUR trend was supported by both of hedge funds and real money buying.
EUR/USD is trdaing circa 1.0625 as of of writing.
Source: Bank of America Merrill Lynch Rates and Currencies ResearchOriginal Article
