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10 Apr 2013
Forex Flash: EUR/USD would climb to 1.33 medium term – Danske Bank
FXstreet.com (Barcelona) - The single currency is now hovering over the 1.3100 mark on Wednesday, correcting from intraday highs above 1.3120 after dovish comments by Luxemburg PM, J.C.Juncker.
In the view of S.Holbek, Senior Analyst at Danske Bank, the cross would still have room for further upside due to tighter spreads in the peripheral debt markets and increased short positioning according to the last report. “We forecast 1.33 over the coming months. Further yen weakness would only fuel speculation about flows going into the higher yielding euro market”, the expert remarked.
In the view of S.Holbek, Senior Analyst at Danske Bank, the cross would still have room for further upside due to tighter spreads in the peripheral debt markets and increased short positioning according to the last report. “We forecast 1.33 over the coming months. Further yen weakness would only fuel speculation about flows going into the higher yielding euro market”, the expert remarked.