Welcome to CoinDesk's weekly macro column, where analyst Omkar Godbole writes about his macro observations and analysis in the broader markets. The views expressed in this column aren't investment advice. A major currency pair, which is barely considered volatile, is now rivaling notoriously explosive bitcoin's price performance—unimaginable, right? Not anymore. In June, EUR/USD, the most liquid FX pair in the world, rose nearly 4% to 1.1786, outperforming bitcoin's (BTC) 2.4% gain. Remarkably, both assets are nearly neck and neck in year-to-date performance, each up over 13%. Some observers believe EUR/USD still has room to run higher, a positive sign for EUR-pegged stablecoins, which have already benefited from the single currency's surge. "EUR/USD could face resistance probably in the 1.22/1.23 area," Marc Ostwald, chief economist and global strategist at ADM Investor Services International, said, explaining that the focus is on Germany loosening ...
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