EUR/USD to be range bound around 1.15 level – Danske Bank

Valtteri Ahti, chief strategist at Danske Bank, suggests that after recent ECB talk of TLTROs, some pressure has eased off from the EUR/USD pair as USD came under pressure last night and the US called for a stable CNY.

Key Quotes

“We still see EUR/USD as a range around 1.15 and regard the cross a strategic buy on dips with triggers for a sustained move higher being an eventual stabilisation in euro-zone data and a trade deal – even if the positive impact of the latter on EUR/USD may be dented somewhat initially by a US short-term growth boost as well.”

“Focus today on FOMC minutes today: we still think the Fed is priced too dovishly for 2019 which should hold a hand under USD near term.”