EUR/USD: bulls grazing, but no bite until 2017 H2 - Socgen

Kit Juckes, analyst at Socgen explained that there isn't a lot of appetite for fighting the Euro's softness.

Key Quotes:

"With the second round of the French presidential elections not until early May 2017, I am loathe to argue with that consensus.:

"I still think the French electoral arithmetic is much more conducive to a version of the status quo (as opposed to a populist revolution) than in either the US or the UK, but the lack of appetite to stand in the way of the populist Tsunami is the clearest message I've received."

"My diary says I've got a week in London before I head off round Europe, so I'll get a different perspective soon enough, but all I can offer is a bullish perspective on the Euro for H2 2017. For now, days when TIIPS yields rise and days when peripheral spreads widen will be days when EUR/USD probes (or breaks) the bottom of its range."