By eFXdata — Mar 02 - 10:45 AM
Societe Generale Research sees a limited scope for EUR/USD downside in the near-term, and highlights the importance of the 137.50 level in USD/JPY.
"We think EUR/USD is finding a base here, partly because the US rates market has priced a lot in now, and partly because the European rates market has more to price in,"SocGen notes.
"The USD/JPY 200-day average is at 137.70 and if that were to break, it would trigger a spike down for the yen, at least temporarily," SocGen adds.
Source:
Société Générale Research/Market Commentary