EUR/USD will move below parity for a while in the coming weeks – SocGen

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According to Kit Juckes, chief currency strategist at General Companyit is EUR/USD unlikely to break below 0.95. However, the pair will trade below parity in the coming weeks.

Europe has tapped into global LNG supplies

“The good news that Europe has tapped into global LNG supplies and is doing a better job of unhooking Russian gas, is enough to provide some sort of cushion for EUR/USD and makes a break below 0.95 is less likely now, unless the conflict with Russia escalates dramatically.”

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“However, the drag of high prices on European growth looks certain to push EUR/USD below parity for a while in the coming weeks.”

Source: Fx Street

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