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May 04 - 06:55 PM

USD: We See No Rate Cuts From The Fed This Year Ans See EUR/USD Falling To 1.06 By Year-End - Danske

By eFXdata  —  May 04 - 03:00 PM

Danske Research made no change to its Fed call and EUR/USD targets on the back of yesterday's Fed decision.

"The Fed delivered a 25bp hike as widely expected by both consensus and markets. We think this marks the end of the Fed's hiking cycle. Powell struck a very balanced tone in the press conference, not closing the door for another hike, but also emphasizing that policy is now clearly restrictive," Danske notes. 

"EUR/USD was largely unchanged. We make no changes to our Fed call, see no rate cuts this year and expect EUR/USD to fall to 1.06 in 6M," Danske adds. 

Danske Research/Market Commentary


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