ING FX Strategy Research notes that German Bund yields have finally broken to the upside and EUR/USD is not far off ING Q3 target of 1.15
“This has happened a little earlier than we planned – but should remain a core and supportive EUR theme this summer,” ING argues.
ING expect EUR/USD to find support in the 1.1320/50 area.
On USD/JPY, ING notes that pair should get an additional lift as the BoJ today re-iterated its unchanged policy with an offer to buy unlimited amounts of 5-10 year JGBs at 0.11%.
“115 looks in reach for USD/JPY here,” ING adds.
Source: ING Global Markets Research
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