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Jun 28 - 07:55 AM

EUR/USD - Is On Middle Ground And That's Important

By Jeremy Boulton  —  Jun 28 - 06:05 AM
  • Since Fed hiked 75bps EUR/USD has gravitated to neutral ground

  • 50% retracement drop from 1.0787 May 30 peak to 1.0349 Jun 15 low is 1.0573

  • Neutral ground for short term movement, otherwise its bearish ground

  • EUR/USD isn't from far base 1.2266-1.0349 driven by changing Fed policy

  • Vols have sunk 10.5 to 8.2 during quiet since June Fed meeting

  • Quieter markets heighten the influence of interest rates

  • The interest rate divide has widened substantially fav USD since June Fed

  • FX traders must account for extremes resulting from U.S. policy nL1N2YF0IT



Source:
Refinitiv IFR Research/Market Commentary

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