://pull.db- gmresearch.com/p/10686-92CD/10819692/6ab2809a-5.9b-11e7-9c58-87f42c8f0663_604.pdf> of the US hiking path. Finally, and most importantly, mone=ary policy is simply not the main driver of EUR appreciation (chart 8). The=market is becoming more structurally optimistic on Europe versus the US and=the ECB