EUR/USD: Risks remain titled to the downside – MUFG – by MSalordFX EURUSD Currencies Majors
“Further fiscal support lowers the negative macro impact risks but risks still remain high.”“We remain bearish EUR despite the policy support and furtherhikes. Those hikes are fully priced and along with Fed action only reinforce the risks related to tighter financial conditions. Recent EUR performance suggests declines could prove more modest than say the declines versus USD for the higher beta G10 currencies.
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