Currencies
EUR/USD downtrend accelerates as Draghi opens the monetary spigots.
The EUR/GBP downtrend slows as uncertainty on the Scottish referendum weighs on the UK currency.
USD/JPY started a new upleg and cleared the 105.44 range top. The move is driven by broad‐based USD strength. At the same time, markets ponder chances of more BOJ easing.
Czech koruna returns to the mid EUR/CZK 27 area. The Czech national bank wants to defend the 27 barrier longer than initially expected, but a rise of the reference rate is unlikely.
Forint continues to lose ground even as the NMB halted its easing cycle.
The zloty stays slightly under pressure as Polish monetary policy will probably stay accommodative for longer than expected. Uncertainty on Ukraine/Russia is a negative, too.
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
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