FXStreet (Edinburgh) – Senior Currency Strategist at Rabobank Jane Foley sees the pair marching towards the 1.06 area by end of 2015.
Key Quotes
“While interest rate differentials have been the main stay of our bearish view on EUR/USD over the past year, the political background in the eurozone has the potential to further undermine the EUR”.
“At the time of writing it still seems possible that an agreement between Greece and its creditors will be signed such that a June default can be avoided”.
“This should bring relief to the EUR. However, Greece’s budget position remains precarious and concern that Spain’s general elections this autumn could bring a change to Europe’s political landscape may also unnerve investors”.
“We look for a move towards the EUR/USD 1.06 area by year-end”.
(Market News Provided by FXstreet)