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5 Jun 2014
Scope for deeper EUR fall if ECB delivers - RBS
FXStreet (Bali) - Despite the market is going short the Euro into the ECB meeting, Greg Gibbs, FX Strategist at RBS, sees the currency exposed to further downside if the central bank delivers.
Key Quotes
"The market is prepared for some fireworks around the ECB rates announcement, policy statement and press conference tonight. The market may be short EUR, but appears only moderately positioned, especially short-term traders."
"Personally, I see more scope for a deeper fall in the EUR if the ECB delivers on the main thrust of expectations to push cash rates down to average below 10bp for the foreseeable future and less scope for a large bounce on a tepid policy easing."
Key Quotes
"The market is prepared for some fireworks around the ECB rates announcement, policy statement and press conference tonight. The market may be short EUR, but appears only moderately positioned, especially short-term traders."
"Personally, I see more scope for a deeper fall in the EUR if the ECB delivers on the main thrust of expectations to push cash rates down to average below 10bp for the foreseeable future and less scope for a large bounce on a tepid policy easing."