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Feb 19 - 09:55 AM

EUR: Staying Cautious On EUR/USD N-Term; EUR/GBP Very Undervalued Here - Credit Agricole

By eFXdata  —  Feb 19 - 08:51 AM

Credit Agricole CIB Research discusses the EUR outlook and maintains a neutral bias in the near-term.

"The EUR has been generally lagging behind other risk-correlated currencies of late. This seems to reflect the relatively slow rollout of Covid vaccines in a number of Eurozone countries. In turn, this has added to concerns about the near-term economic outlook as European governments are struggling to re-open their economies," CACIB notes. 

"In all, we maintain a cautious near-term outlook on EUR/USD. At the same time, we note that EUR/GBP is already looking very undervalued according to our long-term fair value model," CACIB adds. 

Crédit Agricole Research/Market Commentary


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