Do you believe EUR/USD is driven the by FED/ECB balance sheet ratio?

Do you believe EUR/USD is driven the by FED/ECB balance sheet ratio? A popular theory is that an approximate proxy for money printing is the absolute size of the central bank in question. This is a simplification since monetery operations can be and are collaterilized (such as ECB’s LTRO and LTRO2) or direct (such as …

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