4 Sep 2013
Flash: EUR/USD continues lower despite improved risk sentiment - Danske Bank
FXstreet.com (Barcelona) - Danske Bank strategists note that EUR/USD continued to trade lower yesterday despite improved risk sentiment.
Key Quotes
“The move lower in EUR/USD indicates that the cross is currently trading on whether or not the Fed will start its tapering this month.”
“Hence, near-term risks still look skewed to the downside for EUR/USD as a September tapering, in our view, looks very likely and as trading accounts, according to the latest IMM data, are speculatively long EUR at the moment.”
Key Quotes
“The move lower in EUR/USD indicates that the cross is currently trading on whether or not the Fed will start its tapering this month.”
“Hence, near-term risks still look skewed to the downside for EUR/USD as a September tapering, in our view, looks very likely and as trading accounts, according to the latest IMM data, are speculatively long EUR at the moment.”