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EUR/USD remains rangebound as Dollar takes the lead – Societe Generale
The latest US CPI-driven move in rates has left EUR/USD’s ‘fair value’ near 1.1150 and the pair trading within a range, according to Societe Generale’s Kit Juckes. With the US economy still outperforming, he retains a year-end EUR/USD target of 1.10. Following CPI, the forthcoming US PPI figures may attract greater attention.
EUR/USD remains confined to a narrow range
"Yesterday’s US rates reaction to the CPI data helped put EUR/USD ‘fair value’ at 1.1150, very close to where it is trading this morning."
"The bottom line is that there may be storm clouds gathering beyond the horizon, but for now the US economy continues to outperform most others."
"Our year-end EUR/USD target of 1.10 is not obsolete yet."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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