By eFXdata — May 10 - 03:00 PM
EUR/USD to Rise by Year-End, JPY Strengthening on Cards - Nordea 📈💶💵
Nordea expects a rise in the EUR/USD towards the year-end as the Fed is near a pause of its rate hikes while the ECB needs to do more. However, they see a sideways movement in EUR/USD next year due to market expectations of Fed rate cuts. The prospect of a global recession over the next couple of years could favor the USD.
Historic Monetary Policy Normalization Could Bolster JPY 💴💹🔄
Among other currencies in focus for the second half of 2023 is the JPY. Nordea notes that with a new governor at the Bank of Japan and higher inflation, a historic normalization of monetary policy could be underway. This could set the stage for JPY strengthening
Nordea Research/Market Commentary