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Sep 15 - 06:55 PM

EUR/USD: Two-Way Newsflow, But New Low Likely - SocGen

By eFXdata  —  Sep 15 - 03:00 PM

Societe Generale Research maintains a bearish bias on EUR/USD into year-end.

"The second half of last week benefited European currencies amid Ukrainian gains in its war with Russia. But the US CPI was hotter than expected, springing a dollar-bullish surprise. EUR/USD is again edging towards parity. US yields could overshoot to the upside from here due to a re-pricing of peak rates. This would cause at least one more bout of dollar strength. We hope for more good news from Ukraine, but we remain braced for two-way newsflow ahead," CS notes. 

"EUR/USD probably still hasn’t seen its low, likely settling in now for a long bottoming-out period and a cold autumn," CS adds. 

Source:
Société Générale Research/Market Commentary

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