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Aug 22 - 06:55 PM

EUR: Asian FX Reserve Managers Likely To Sell EUR/USD To Re-balance FX Portfolios - ING

By eFXdata  —  Aug 22 - 03:00 PM

ING Research sees EUR/USD remaining under pressure in the near-term.

EUR/USD remains very heavy and could sink below parity at any time. Adding to the sell-off may well be the portfolio adjustments of Asian central banks," ING notes.

"Asian FX remains under heavy pressure and will prompt intervention to sell dollars and support local currencies. Asian FX reserve managers will then need to sell EUR/USD to re-balance FX portfolios to benchmark weightings," ING adds. 

Source:
ING Research/Market Commentary

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