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#SaxoStrats - EURUSD put spread

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Saxo's John Hardy notes that EURUSD is close to the bottom of the range around 1.05 as two key event risks are approaching. This Tuesday, it's the US retail sales report and on Wednesday the ECB meeting, both of which could move the Euro and the Dollar either way, notes John.

In this #SaxoStrats, he looks at buying a two-week (Apr 28) EURUSD 1.0450 put and selling a 1.03 put. John discusses this strategy and what the risk award could be.