Forex Flash: EUR/USD year-end target at 1.27 – Scotiabank (Barcelona) - The bloc currency continues to hover over the key resistance at 1.3300, trading in the red territory as the risk appetite stemmed from the BoJ announcements failed to push the cross beyond session highs in the vicinity of 1.3370

“We believe that recent trading of EUR has been driven by several flows, including a decrease in overall official diversification selling flows, EURJPY positioning flows and a building in long positions. We have made no change to our year-end target of 1.27. Expecting significant hurdles ahead for the euro zone, including political uncertainty”, warns Camilla Sutton, Chief Currency Strategist at Scotiabank.

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 securities. 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 Forex 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.