EUR/USD: A push higher to 1.12/1.13 is a growing risk – Scotiabank EURUSD Banks
Short-term EZ-US rate spreads have narrowed over the past week, with the 2Y spread reaching –155 bps, supporting EUR gains. But spreads will have to narrow further still to lift the EUR meaningfully and make a run above the 1.11 zone. Soft US inflation data may be the catalyst.
EUR/USD is within reach of the 1.1095 April high but there is little reason to expect spot gains to stop there. A push higher to 1.12/1.13 is a growing risk.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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