20 Jul 2015
EUR/USD could drop faster – RBS
FXStreet (Edinburgh) - Strategist at RBS David Simmonds believes the pair could head lower at a faster pace.
Key Quotes
“We may be set for a renewed more-rapid run lower in EUR/USD again given that (a) fast money positioning in USD longs (generally) and EUR/USD shorts (specifically) is much cleaner”.
“(b) oil prices are falling fast again”
“(c) on balance a September first rate rise from the Fed is still on, and”
“(d) The market is having to think again about Euro zone ‘reflation’ and as the oil price falls there is a risk that more ECB QE may ultimately be needed”.
Key Quotes
“We may be set for a renewed more-rapid run lower in EUR/USD again given that (a) fast money positioning in USD longs (generally) and EUR/USD shorts (specifically) is much cleaner”.
“(b) oil prices are falling fast again”
“(c) on balance a September first rate rise from the Fed is still on, and”
“(d) The market is having to think again about Euro zone ‘reflation’ and as the oil price falls there is a risk that more ECB QE may ultimately be needed”.