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Forex Flash: EUR/USD potential upside ahead – Danske Bank

By FXstreet.com,  January 16, 2013, 11:57:00 AM EDT

FXstreet.com (Barcelona) - The bloc currency is back to the 1.3300 region on Wednesday, after rumours by EU official were behind today's price action.

"Yesterday Juncker said that the euro is 'dangerously high'. However, we doubt his comments will have any lasting effect on the euro as long as the ECB is not ready to accommodate any attempt to weaken the euro. ECB has already said that a new rate cut is not an option and there is close to no chance that the ECB will engage in quantitative easing policies for the foreseeable future. Hence, in an environment characterized by an improvement in the cyclical outlook and strong risk sentiment we still see EUR/USD crawling higher over the next three to six months", explained A.Lohman Rasmussen, Chief Analyst at Danske Bank.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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