"Euro remains under pressure – against the dollar and on all the major crosses except EURCHF. We expect this trend to continue and note the next big technical support level is at 1.187 in EURUSD." He forecasted.
Berry also highlighted that in a weekend interview in Le Monde, ECB President Draghi said that "inflationary pressures are falling faster than was expected (even as recently as the last ECB board meeting). We see this as a clear signal that another rate cut is on the cards, and the comments support the view of our European economists who think we could see another cut to the refi rate as early as September."