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Aug 20 - 02:55 PM

EUR: Can Positive Macro Conditions Save The EUR? - MUFG

By eFXdata  —  Aug 20 - 01:30 PM

MUFG Research discusses EUR outlook and sees a scope for a limited downside from current levels.

"The US dollar has advanced against all G10 currencies this week as China growth concerns and COVID risks undermine risk assets and lift the dollar. Fed Chair Powell’s Jackson Hole’s speech will be the focus next week and we see reason for some caution in guidance that should dampen speculation of a sooner and faster QE taper," MUFG notes. 

"But the dollar is set to remain supported until COVID uncertainties clear although we argue this week that impressive macro fundamentals in the euro-zone could limit the downside in EUR/USD from here," MUFG adds. 

Source:
MUFG Research/Market Commentary

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