Euro: Downside risks persist against US Dollar – Commerzbank
Commerzbank’s Thu Lan Nguyen notes EUR/USD briefly slipped below 1.12 again, with weakness driven mainly by Euro-specific concerns rather than US rate expectations.
Commerzbank's Thu Lan Nguyen highlights ongoing downside risks for EUR/USD against the US Dollar. The decline was primarily driven by concerns specific to France, such as fiscal sustainability and Marine Le Pen's proposals. FOMC minutes also contributed to the perception of reduced likelihood for near-term Fed rate hikes. The combination of factors keeps near-term risks for EUR/USD tilted to the downside.
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