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Oct 06 - 09:55 AM

EUR/USD: New Extended Target At 1.14 - Credit Suisse

By eFXdata  —  Oct 06 - 08:39 AM

Credit Suisse maintains a bearish bias on EUR/USD towards 1.14 over the near-term.

"With our old Q3 target of EURUSD of 1.16 met right at the end of last month, we see in this ongoing situation more grounds to stick with our now extended target of 1.1400," CS notes. 

"Especially as there appears to be little chance of the current iteration of the ECB turning hawkish due to any temporary inflation risk, having watched the Trichet version in 2008 be roundly mocked and lampooned by all concerned for hiking rates in July 2008, due to a different energy price spike into a slowing economy," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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