FXStreet (Bali) – John Normand, FX Strategist at JPMorgan, notes that they retain the year-end EUR/USD forecast of 1.05 despite Grexit risk after the ‘No’ vote in the Greek referendum.
Key Quotes
“There is no change to the year-end EUR/USD forecast of 1.05.”
“To us, Fed policy will be more enduring than sovereign stress, and we doubt the stress will require such a large ECB commitment to deliver the extreme downside targets outlined above.”
“Hence, no change the forecast decline to 1.05 this year (based on the Fed) and a bottom in Q2 2016 (based on ECB tapering).
(Market News Provided by FXstreet)