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17 Dec 2013
Flash: EUR to stay elevated into 2014? - Societe Generale
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale feels that if there isn‘t much to scare markets from the FOMC, beyond uncertainty, then he sees no reason to hold out hope of a Euro fall this side of the New year (or indeed, for some time after that!).
Key Quotes
“EUR/USD continues to test the top of the year’s range at 1.3830, is a sell this side of 1.40, and is going nowhere.”
“But by the same token, if there isn’t much to spook equity markets yet, I still fancy a break of the year’s high in USD/JPY before the end of the year.”
“And despite my bearish AUD bias, reinforced by the RBA’s desire to see it lower and supported by a deteriorating fiscal position, I think there’s a good chance of a further push up in NZD/JPY into year’s end too.“
Key Quotes
“EUR/USD continues to test the top of the year’s range at 1.3830, is a sell this side of 1.40, and is going nowhere.”
“But by the same token, if there isn’t much to spook equity markets yet, I still fancy a break of the year’s high in USD/JPY before the end of the year.”
“And despite my bearish AUD bias, reinforced by the RBA’s desire to see it lower and supported by a deteriorating fiscal position, I think there’s a good chance of a further push up in NZD/JPY into year’s end too.“