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- EUR/USD: Two conditions required to see a breach of 1.09 – Commerzbank
EUR/USD: Two conditions required to see a breach of 1.09 – Commerzbank
EUR/USD has been unable to surpass the 1.09 level. Economists at Commerzbank analyze the pair’s outlook.
EUR/USD seems to be slowly running out of steam at 1.09
At EUR/USD levels just below 1.09 things then clearly got a little too hot for the market and the gains were retraced. The market had already considered this level to constitute an initial obstacle on Tuesday.
A breach of the 1.09 mark would probably require a clearer indication that inflation is returning to target levels or that a recession is looming in the US. Or both.
In the absence of any new information of this nature – today will only bring second-tier US data – exchange rates are likely to be stagnating.
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