Once again, Europe is making headlines, and once again, the euro is on the move. Here's a way to trade the impact of all the tumult.
"There's a lot of headline risk coming out of Europe," says Willie Williams, director of global macro sales at Societe Generale. And he has no interest in trying to trade it. "The last few weeks have seen a lot of choppy price action, and that's a very tough way" to trade, he told CNBC's Simon Hobbs.
Instead, Williams is focusing on what the mess in Europe will mean. "Net net, I think it's going to have a negative impact on growth and risk appetite," he says, so he has a currency trade reflecting that view.