EUR/USD Still Remains Under Pressure – Danske Bank
Senior Analyst at Danske Bank Pernille Henneberg has assessed the recent price action in the pair.
“Over the past week, the USD has strengthened over 1% against the EUR. This goes well with our call… where we saw the cross dipping towards and possibly below 1.12 in 1-3M on re-emergence of the importance of relative rates, Brexit fears and a cyclical situation evolving in favour of the US”.
“It was noteworthy that with the relative weak US non-farm payroll number on Friday the USD after weakening initially recovered most ground against the EUR”.
“It will be interesting to see whether the USD can continue its strong path as investors according to the latest IMM data seem to have reduced their short EUR/USD bets”.