FXStreet (Guatemala) - Analysts at Brown Brothers Harriman explained that the latest leg down for the euro began in mid-October when the single currency met a wall of sellers in front of $1.15.
Key Quotes:
"Draghi's dovishness at the press conference following the October 22 ECB meeting sent the euro toward $1.11. The contrasting hawkishness of the Federal Reserve, where the FOMC statement on October 28 specifically cited the next meeting, pushed the euro to $1.09.
The largest rise in US nonfarm payrolls this year saw the euro sell off through the $1.08 area which had offered support in the summer. Many participants have their sights set on the multi-year low set in March near $1.0460, and parity."
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