EUR/USD: Coronavirus uncertainty to keep any upside capped – ANZ

Economists at ANZ Bank do not see potential for the euro due to global uncertainty and strains in the Eurozone. 

Key quotes

“Given the euro area’s high beta to global trade, we expect more global uncertainty around the pandemic to keep any upside capped.” 

“Politically, the European Union is hamstrung, further restricting the region’s ability to appropriately respond to the current crisis.”    

“Spot: 1.08 ANZ Fair value: 1.07”