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Mar 02 - 12:55 PM

EUR: We think EUR/USD Is Finding A Base Here; USD/JPY: 137:50 Key - SocGen

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.
Société Générale Research/Market Commentary


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