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Jan 12 - 02:55 PM

EUR: EUR Is A Buy On Dips And USD Is A Sell On Rallies Barring New Geopolitical Developments - SocGen

By eFXdata  —  Jan 12 - 01:30 PM

Societe Generale Research likes buying EUR/USD on dips targeting a move towards 1.12

"If the impact of the war doesn’t increase (or go away completely), our rates forecasts justify another 4 figures or so of gains for EUR/USD this year (consistent with our EUR/USD 1.12 end-year forecast). That’s based on a 5 ¼% fed Funds rate and a 3% ECB deposit rate. If the Fed does less (let’s face it, the data are deteriorating), the euro can get a bit higher but a non-geopolitical reason for EUR/USD to fall back to parity is hard to imagine," SocGen notes. 

"The euro is a buy on dips and the dollar a sell on rallies, barring new geopolitical developments," SocGen adds. 

Source:
Société Générale Research/Market Commentary

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