EUR/USD looked close to breaking 1.19 this week - Nomura

Sandeep Kanihama FXStreet Contributor

Analysts at Nomura explain that EUR/USD looked close to breaking 1.19 this week, but it has rallied back up towards 1.2125 as ECB minutes showed the ECB to be optimistic on inflation, despite recent weakness.

Key Quotes

“Furthermore, the ECB showed limited concerns over EUR appreciation, while repeating financial conditions remain accommodative. Finally, the ECB said that “the language pertaining to various dimensions of the monetary policy stance and forward guidance could be revisited early in the coming year,” which could take the market by surprise in H1. We continue to expect euro outperformance this year, looking for EUR/USD to reach 1.30 by year-end.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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