"Today, the United States honors the life and legacy of Dr. Martin Luther King Jr. His work to advance civil rights changed history & continues to inspire millions of people around the world."
"As a reminder, FX team has a target of 1.30 on EUR/USD in 2018. Although the Fed is hiking rates, US rate differentials are widening and the dollar has become a G10 high-yielder, the dollar is not responding. Current dynamics look very similar to the 2004-06 Fed cycle. Back then the dollar weakened even as the dollar became one of the highest-yielding currencies in the world. Weaker flows into the US mattered more than rising rates. FX team believes flows will matter more in 2018 too, and these are decidedly EUR/USD positive"