ECB’s Villeroy says euro should take on a more important role internationally

European Central Bank Governing Council member and Governor of the Banque de France Francois Villeroy de Galhau spoke over the weekend in an interview, details here:

• ECB’s Villeroy: Trump’s encouraging crypto is sowing the seeds of future upheavals

In addition to his Bitcoin comments he pumped up the euro:

• the euro should take on a more important role internationally
• Europe needs to “build a powerful savings and investment union, capable of attracting international investors to our currency.”

Speculators are loading into EUR:

• Data show speculative traders have flipped from a net short to a net long position on euro

Given the big fiscal news out of Germany I expect the EUR to be underpinned.

This article was written by Eamonn Sheridan at www.forexlive.com.