How does FX affect the Euribor?

Well, mostly the causality goes the other way... Rates (of which Euribor fixing is supposed to be representative) drive exchange rates. However, there's also macro feedback from FX into rates. For example, one could assume that if trade-weighted EUR goes too far, this should imply rates lower, as the Eurozone economies weaken. It's all very tenuous and rather unpredictable, though.
 
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