💶🔺EUR/USD Failed to Follow Through With Risk: Cable FX Macro

• The recent EUR/USD upside was capped above 1.0700. While a correction is taking place, risk assets extended gains. Euro Stoxx futures hold above 4,200.0

• Decoupled trading between the euro and risk is not news, we have seen the long-term correlation between the two slip for most of this year. The Euro Stoxx 50 futures and EUR/USD coefficient is now at 19.6% vs 52.0% a year ago