Forex Flash: EUR/USD could visit 1.2700 – Danske Bank
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EUR/USD
FXstreet.com (Barcelona) - EUR sentiment remains stuck in the 1.2500 region so far, eyeing Chief Bernanke's speech at Jackson Hole Symposium on Friday, which might ignite some fireworks in the FX market, particularly affecting the greenback. However, and according to M.Helt, Senior Analyst at Danske Bank, Spain would be the elephant in the room ahead of September ECB meeting.
In his opinion, "The key test for EURUSD as we approach autumn is not Bernanke though, but whether Spain will still seek aid now that yield spreads have narrowed. We expect a strong European policy response and hence still look for EURUSD to move temporarily higher (3M forecast is 1.27)".
In his opinion, "The key test for EURUSD as we approach autumn is not Bernanke though, but whether Spain will still seek aid now that yield spreads have narrowed. We expect a strong European policy response and hence still look for EURUSD to move temporarily higher (3M forecast is 1.27)".
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