21 Nov 2013
Flash: EUR supported until end? – Rabobank
FXstreet.com (London) - Jane Foley, Senior Currency Strategist at Rabobank has said they expect that EUR/USD will remain well supported into year end.
Key Quotes:
“Insofar as the market remain obsessed with the timing of Fed tapering, the ECB currently has less control over both market interest rates and the direction of the EUR than it would probably like”.
“Not only that, but the strength of Germany’s external sector and current account remains a source of strength for the EUR”.
“Despite the references to tapering in the Fed’s Oct minutes, we suspect that the Fed will remain dovish for some time and that the USD will take its time in clawing back to stronger levels”.
“While this will push the ECB into retaining its dovish threats we expect that EUR/USD will remain well supported into year end”.
Key Quotes:
“Insofar as the market remain obsessed with the timing of Fed tapering, the ECB currently has less control over both market interest rates and the direction of the EUR than it would probably like”.
“Not only that, but the strength of Germany’s external sector and current account remains a source of strength for the EUR”.
“Despite the references to tapering in the Fed’s Oct minutes, we suspect that the Fed will remain dovish for some time and that the USD will take its time in clawing back to stronger levels”.
“While this will push the ECB into retaining its dovish threats we expect that EUR/USD will remain well supported into year end”.