Forex Flash: EUR/USD to range bound between 1.28-1.30 on 1m view – Rabobank
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EUR/USD
FXstreet.com (Barcelona) - Today's upside in the shared currency remains capped in the proximities of 1.2940, as increasing risk appetite is fueling the ascent. Seems that euro traders have digested todays news regarding the PM Mario Monti, focusing now on the next FOMC meeting on Wednesday and another (yes, another) EcoFin meeting towards the weekend.
According to Jane Foley, Senior Currency Strategist at Rabobank, "We expect that the FOMC will step up its QE policy soon and maintain pressure on the USD. We also expect that the ECB's OMT scheme will be triggered potentially in Q1 2013, which should underpin the EUR. While we still see the Eurozone crisis has having the potential to cause pullbacks in EURUSD in the comings months we see the EURUSD1.28 to 1.30 range as likely containing most market action on a 1 mth view".
According to Jane Foley, Senior Currency Strategist at Rabobank, "We expect that the FOMC will step up its QE policy soon and maintain pressure on the USD. We also expect that the ECB's OMT scheme will be triggered potentially in Q1 2013, which should underpin the EUR. While we still see the Eurozone crisis has having the potential to cause pullbacks in EURUSD in the comings months we see the EURUSD1.28 to 1.30 range as likely containing most market action on a 1 mth view".
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