Economists at Rabobank have have revised down tehir EURUSD forecast. The pair is expected to slump towards the 0.95 mark.
It is not clear if the ECB can support the EUR with rates hikes
“It is our view that the EUR is not fully priced for the headwinds facing the Eurozone economy.”
“There are no guarantees that the ECB will be able to support the EUR vs. the USD with rate hikes if its guidance on the economic outlook is sour.”
“We continue to see risk of a fall in EURUSD to 0.95 in the weeks ahead and see the potential for the EUR to stay weaker for longer vs. the USD.”
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