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10 Dec 2014
EUR/USD to trade decline on divergent monetary policy outlook – Danske
FXStreet (Barcelona) - The Danske Bank Research Team expects EUR/USD to decline further and trade near 1.20 levels in six months due to the divergent monetary policy outlook.
Key Quotes
“We expect EUR/USD to decline further in coming months on the divergent monetary policy outlook and we target the cross at 1.22 in 3M and 1.20 in 6M. However, given that the ECB is expected to frontload the balance sheet, expansion risks are likely to be that the cross temporarily undershoots compared with our 6M target of 1.20 and that this level could be reached earlier than we project"
"On a six- to 12-month horizon, we expect EUR/USD to bounce supported by improved growth and inflation outlook in the Eurozone. We target EUR/USD at 1.23 in 12M.”
Key Quotes
“We expect EUR/USD to decline further in coming months on the divergent monetary policy outlook and we target the cross at 1.22 in 3M and 1.20 in 6M. However, given that the ECB is expected to frontload the balance sheet, expansion risks are likely to be that the cross temporarily undershoots compared with our 6M target of 1.20 and that this level could be reached earlier than we project"
"On a six- to 12-month horizon, we expect EUR/USD to bounce supported by improved growth and inflation outlook in the Eurozone. We target EUR/USD at 1.23 in 12M.”