We remain of the view that the EUR remains a sell versus the USD especially on any significant rally. More muted Eurozone growth prospects continue to support the notion that the ECB may be ready to become even more dovish on monetary policy. This is especially true as central bank members continue to stress the possibility of introducing negative interest rates. This continues to stand in contrast to the US. Once again rising expectations for the Fed to tapper QE sooner than expected are supporting further diverging monetary policy expectations. Accordingly interest rate differentials such as 2Y swap spreads have ... (full story)