FX Talking: Au Revoir, Euro Bulls
(MENAFN- ING) Euro bulls are suffering a temporary setback. Having started the year more upbeat on EUR/USD off the back of the dollar debasement trade (remember Greenland?), bulls are now facing a much more hawkish Federal Reserve.
High inflation, high yields and expectations of tighter US monetary policy appear to be staying with us for the next two quarters. Add in French budgetary politics ahead of upcoming elections and EUR/USD should stay soft in a 1.10-1.15 range.
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