The rupture above 1.17 in EUR/USD today is additional evidence of both the weakness of the USD and the attractiveness of the history of the European Renaissance, reports the FX analyst of Rabobank, Jane Foley.
A stronger euro can shake the BCE pigeons
“> That said, as well as the weakness of the USD is a blessing for American exporters, the strength of the EUR is an obstacle to European companies that are already under pressure due to uncertainties related to tariffs.
“> Economists expect German growth to remain mediocre this year and, although the ECB has pointed out that it has arrived near the end of its cycle of interests of interest rates, more profits pronounced for the EUR could unleash the doves of the ECB.”
“> In addition, the data of CFTC speculators are beginning to insinuate that the positioning can be stretched. Thus, we have advanced our EUR/USD provision at 1.20 from a perspective of 18 months to 12 months, we do not expect the movement to be a straight line. We continue to see margin for setbacks in favor of the USD in a perspective of 3 months.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
