People may consider this risky at the moment with the news surrounding Portugals banks which will drive demand for the safe haven currency. I feel on the pair for two reasons:
1) The Portuguese prime minister and central have both publicly stated that BES (Banco Espirito Santo) does not require any support to deal with its debt.
2) The fantastic jobs data out of the US at the beginning of the month is being massively discounted.
This trade setup still applies to those that want to sit on the sidelines for the next week or so for the knee jerk panic to clear from the markets.
- Darren (12/7/2014)