24 Jun 2015
EUR/USD gains appear limited – Danske Bank
FXStreet (Edinburgh) - Senior Analyst at Danske Bank Pernille Henneberg sees upside in the pair as limited in the near term.
Key Quotes
“While we are still waiting for a Greek deal, the FX market seems increasingly focused on monetary-policy divergence yet again”.
“Despite a mediocre set of data out of the US yesterday, a broad-based USD rally was seen and EUR/USD posted a remarkable drop below the 1.12 level”.
“While a relief rally in the cross could be in the cards if a Greek deal is soon to be reached (as we look for), we reckon that upside potential is limited as this would also increase the prospects of a first Fed hike coming soon”.
Key Quotes
“While we are still waiting for a Greek deal, the FX market seems increasingly focused on monetary-policy divergence yet again”.
“Despite a mediocre set of data out of the US yesterday, a broad-based USD rally was seen and EUR/USD posted a remarkable drop below the 1.12 level”.
“While a relief rally in the cross could be in the cards if a Greek deal is soon to be reached (as we look for), we reckon that upside potential is limited as this would also increase the prospects of a first Fed hike coming soon”.