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Forex Flash: EUR/USD should enjoy further legs up - NAB

By FXstreet.com,  January 07, 2013, 04:27:00 PM EDT

FXstreet.com (Barcelona) - NAB strategists just published its daily Asia open remarks, and by the tone of the report, they sound confident that the EUR/USD 1c gain, "in part be related to a desire by global fund managers to load up on European financials after the aforementioned BCBS - Basle Committee on Banking Supervision - news" they say, has more legs to the upside.

The bank adds that ahead of the ECB monetary policy decision on Thursday, "while there is a chance of a cut to the refi rate and/or the deposit rate, 'no change' is the more likely outcome in our view..." NAB says, linking earlier EUR weakness in large part by the expectations of a possible rate cut, thinks the central bank will hold its fire, and this "could well provide additional support for the single currency" NAB notes.




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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