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Aug 19 - 09:55 AM

EUR/USD: Looking Cheap Here - Credit Agricole

By eFXdata  —  Aug 19 - 08:36 AM

Credit Agricole CIB Research sees a scope for a tactical rebound in EUR/USD from current levels.

"Our FX valuation analysis still suggests that EUR/USD is looking cheap relative to a fair value estimate based on rate spread and box yield spread as well as other drivers. In turn, this could limit the downside risks for the pair in the near-term," CACIB notes.

"Moreover, evidence today that the Governing Council is far from unanimous in its commitment to a more dovish policy stance from here helped the EUR recoup some lost ground across the board," CACIB adds.

Source:
Crédit Agricole Research/Market Commentary

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