Credit Suisse highlights its expected Q3 ranges for EUR/USD, USD/JPY, GBP/USD, EUR/GBP, and EUR/CHF.
"Our expected EURUSD range for Q3 is 1.0000 – 1.0800, targeting the lower end for end-Q3. This continues a quarterly range downgrade we have had in place since 2021 but with a slower decline from Q2 lows already seen around 1.0340. Levels near 1.0800 represent good entry levels for fresh shorts from a quarterly risk-return perspective," CS notes.
"For USDJPY, the ongoing test of the BOJ’s YCC commitment likely makes the Q2 range as wide as 128.00 – 145.00 depending on outcome; we expect a move above 140.00 on unchanged policy in Q3. We lower our expected GBPUSD range to 1.1700-1.2600 and look to fade the upside. We expect EURGBP to centre around 0.8700 and see EURCHF moving to 0.9700," CS adds.