US dollar to lose safe-haven status, euro better option

Boris Schlossberg of BK Asset Management said to Joseph Trevisani, senior analyst at FXStreet, that the euro is now the better choice and the USD is set to lose its safe-haven status.

Key quotes

“I have been bullish on the euro for a few weeks and continue to think that it’s the better bet.”

“One idea that no one seems to agree with me on is that the dollar is losing its safe-haven status if we do V-ramp recovery. But if the economy falters and all the political resentment festers like an untreated wound, then I think I am right. Everybody either hates or laughs at the US right now, and it’s hard to stay safe-haven under those conditions for long.”