EUR/USD could slip back to 1.10 and below – Danske Bank
|Senior Analyst at Danske Bank Jens Pedersen sees spot grinding lower towards the 1.100 handle and possibly below in the next weeks.
Key Quotes
“In the majors, the USD saw broad-based support yesterday as the market stuck with its hawkish interpretation of the Fed meeting on Wednesday, e.g. 2Y USD real rates inched higher yesterday”.
“EUR/USD made a firm break below 1.12 and we remain tactically short the pair looking for a further move below 1.10 in the near term. The market will look for confirmation of the hawkish tone from Yellen on Wednesday, when Fed’s Kaplan speaks late today”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.