Why do FX traders continue to Buy Euros

Pounds to Euros exchange rates graph 07-03-2014
Pounds to Euros exchange rates graph 07-03-2014

Well A chart is worth a thousand words – sums up the Euro exchange rate against the pound this week. Argh the ECB cant see the word from the trees and Draghi preformed the Emperors New Clothes performance of a lifetime to convince the FOREX market to buy Euros despite countless evidence to do the opposite.

Sitting at my desk waiting for the US Non Farm Payrolls to take away the pain of GBPUSD not getting above 1.6800 – somehow i feel its possible especially as the Euros to US Dollar exchange rate is at 1.3900.

Forex Traders cant seem to see that the Euro Zone is a failed experiment and should be sold – but they continue to Buy Euros.

At least the weekend sees Chelsea take on Spurs and Wales can complete the pound bashing by beating England at rugby.

Have a Safe Weekend!