EUR/USD: There is a strong seasonal bias to be mindful of in December – MUFG

EUR/USD: There is a strong seasonal bias to be mindful of in December – MUFG EURUSD Banks

Watch the seasonal EUR bias in December

“Over a twenty-year period, EUR/USD has gained on 14 occasions. This could be a reflection of position squaring ahead of year-end. On average over these periods, market participants have run EUR short positions. That influence could be powerful this year given the scale of long Dollar positioning given the huge move in 2022. That said, the EUR/USD gains in October and November may mean this has already started.

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