20 Mar 2014
EUR year end 1.30 target- Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained the EUR is weak having broken well below 1.3800 after a hawkish Chair Yellen emerged.
Key Quotes
"There was limited data today, with Euro leaders meetings the focus. Fed policy with an increased risk of an interest rate hike in Q215 juxtaposed against a dovish ECB is an explicitly EUR negative development; however we already hold a bearish outlook for EUR, calling for a year‐end target of 1.30 and accordingly have made no change to our forecast."
Key Quotes
"There was limited data today, with Euro leaders meetings the focus. Fed policy with an increased risk of an interest rate hike in Q215 juxtaposed against a dovish ECB is an explicitly EUR negative development; however we already hold a bearish outlook for EUR, calling for a year‐end target of 1.30 and accordingly have made no change to our forecast."