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Analysts at Danske Bank expect the EUR / USD to be trapped in a range around 1.13 over a 3M horizon, but with downside risks, the ECB being forced to hold a position fuzzy when the Fed seems more marginal.
Key Quotes
"Beyond the 6M horizon, a higher drift will materialize as the sky clears for the Eurozone, but we are still targeting only 1.17 out of 12M."
"For the moment, the ECB has actually put a stop to the cross – watch the speakers today at the ECB's observers' conference."
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