FXStreet (Guatemala) - FX Strategists at the Bank of Tokyo Mitsubishi UFJ suggested that a lot has been made of next week’s ECB meeting.
“A lot has been made of next week’s ECB meeting after the Jackson Hole speech by President Draghi but the risk next week is that we see no additional monetary easing by the ECB”.
“The best we can hope for in our view is perhaps more concrete details on a QE program in the ABS market."
"Work is already being done on this as was announced in June and that could be the focus at next week’s meeting. The risk to our neutral view is further declines to the downside and one key risk is Russia."
"A further escalation there could hit risk assets and in current circumstances this would be a negative for the euro".