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Mar 24 - 11:00 AM

EUR/USD: Still Targeting 1.05 N-Term; USD/JPY: May Start Peaking - Danske

By eFXdata  —  Mar 24 - 09:30 AM

Danske Research still targets 1.05 in EUR/USD in the near-term, while expects USD/JPY to start peaking.

"More active use of balance sheets has been a common denominator as central banks have stepped up to the tremendous financial challenge that COVID-19 is proving on top of the human tragedy it represents. Near term, relative-rate moves have been side-lined and gyrations in risk assets such as equities, credit and commodities have come to rule FX," Danske notes. 

"EUR/USD – We now target 1.05 short term; US fiscal stimulus and improving risk/credit/funding sentiment are key upside risks...USD/JPY – Broad dollar strength is still ruling, but cross may be peaking," Danske adds. 

Source:
Danske Research/Market Commentary

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