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11 Mar 2015
EUR/USD decline accelerates further – Danske Bank
FXStreet (Edinburgh) - Pernille Nielsen, Senior Analyst at Danske Bank, expects the pair to intensify the decline towards the 1.05 area in 6-month.
Key Quotes
“The EUR remains under pressure as the ECB’s bond buying programme boosts liquidity and pushes down European yields”.
“EUR/USD declined another 1.5 figure yesterday and dropped below 1.07 and while the cross looks increasingly oversold both technically and valuation wise, we could see further USD buying ahead of the FOMC meeting next week as the market positions for a more hawkish Fed”.
“We target EUR/USD at 1.05 in 6M but we stress that risks are tilted to the downside relative to our forecast”.
Key Quotes
“The EUR remains under pressure as the ECB’s bond buying programme boosts liquidity and pushes down European yields”.
“EUR/USD declined another 1.5 figure yesterday and dropped below 1.07 and while the cross looks increasingly oversold both technically and valuation wise, we could see further USD buying ahead of the FOMC meeting next week as the market positions for a more hawkish Fed”.
“We target EUR/USD at 1.05 in 6M but we stress that risks are tilted to the downside relative to our forecast”.