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22 Jun 2015
EUR/USD upside appears limited – Rabobank
FXStreet (Edinburgh) - In the view of Jane Foley, Senior Currency Strategist at Rabobank, a deal in Greece could boost the pair although the follow through would be limited.
Key Quotes
“While the Greece crisis has the potential to rock EMU to its very foundations, the Eurozone’s healthy current account combined with the reforms initiated in other parts of the region in recent years and the pickup in Bund yields are currently lending the EUR support”.
“While a deal for Greece today could push EUR broadly higher in a knee jerk reaction we see good news for Greek as supporting risk appetite and allowing the EUR to drop back against a basket of other currencies under the weight of the ECB’s QE programme”.
Key Quotes
“While the Greece crisis has the potential to rock EMU to its very foundations, the Eurozone’s healthy current account combined with the reforms initiated in other parts of the region in recent years and the pickup in Bund yields are currently lending the EUR support”.
“While a deal for Greece today could push EUR broadly higher in a knee jerk reaction we see good news for Greek as supporting risk appetite and allowing the EUR to drop back against a basket of other currencies under the weight of the ECB’s QE programme”.