Bears may be prowling in the currency markets today, but this strategist thinks risk appetite could rebound - and he has a trade ready.
In a week when three central banks inject stimulus, you might think markets would be on a roll. But the interest rate cut by the European Central Bank was so underwhelming, according to Boris Schlossberg of BKForex, that investors are just kind of fed up.
"The market is just completely disappointed with what happened with the ECB," Schlossberg told CNBC's Scott Wapner. "European policymakers are just not taking this seriously enough."
Schlossberg argues that the euro could easily fall all the way to 1.20 absent a meaningful change in euro zone conditions. The common currency, he says, "looks like a wounded animal."