ANZ - "Euro remains well underpinned as downturn moderates and growth outlook brightens.
(...) Recently, EUR/USD has paused for breath following the strong opening to euro area markets this year. The consolidation may also reflect a lack of conviction to commit to new positions in the short term given the recent volatility in price action. However, we retain our constructive outlook on the currency, view dips as buying opportunities and anticipate further appreciation in EUR/USD towards 1.40-1.45 this year.
(...) Our expectation is that the USD will continue to lose its reserve premium as the world moves further away from the crisis era. So too will sterling and the CHF, underpinning a firmer EUR on the crosses whilst policy dynamics in Japan and a normalisation in the JPY exchange rate against the EUR could justify further appreciation in EUR/JPY."
You need to be a member of FXstreet.com Forex Social Network to add comments!
Join FXstreet.com Forex Social Network