Danske FX Strategy Research expects the recent sharp move higher in EUR/USD to fade heading into the Jackson Hole conference 24-26 August and the ECB meeting on 7 September.
“We believe the ECB president Mario Draghi will be cautious in not sounding too confident given the recent sharp rise in the effective EUR which has risen to its highest level since Q4-2014.
We forecast EUR/USD at 1.17 in 1M and 3M before the next leg higher towards 1.22 in 12M,” Danske projects.
Source: Danske Bank Research
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