Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes EUR/USD outlook.
Rates market now prices the ECB-Fed rate gap narrowing by less than it did
In terms of how the market is trading, we can see EUR/USD struggling as the market pricing for the Oct/Nov ECB-Fed rate gap falls back.
EUR/USD can still trade back above 1.15 in this cycle, but that won’t happen unless/until European data improve enough to push out pricing of early ECB easing.
See: EUR/USD to fall to 1.02 by the end of the year – Morgan Stanley
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