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Forex pairs in this Article » EUR/USD (Barcelona) - While the main reason to cut rates by the ECB may have been low inflation, HSBC is firm on the conviction that the strength of the EUR was also being a consideration even if not said publicly.

Key Quotes

"With further easing likely in the Eurozone and a drift towards the exit from monetary easing likely in the US, monetary policy is unusually heading in opposite directions in the Eurozone and US. It is a combination that we believe will continue to drive EUR-USD lower, and we retain our forecast of 1.30 by year end and 1.24 for end 2014."
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