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4 Jul 2014
Euro to remain slIghtly under the weather - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, notes that the TLTRO chatter by the ECB may continue to keep the common currency slightly under the weather.
Key Quotes
"Apart from detailing its lending program, the ECB’s Draghi went no further than reiterating that the exchange rate is very important for price stability. Despite no additional discomfort towards the EUR’s valuation, note however that TLTRO chatter may continue to keep the common currency slightly under the weather. If the 1.3600 support is breached on a sustained basis, a test towards 1.3550 cannot be discounted."
Key Quotes
"Apart from detailing its lending program, the ECB’s Draghi went no further than reiterating that the exchange rate is very important for price stability. Despite no additional discomfort towards the EUR’s valuation, note however that TLTRO chatter may continue to keep the common currency slightly under the weather. If the 1.3600 support is breached on a sustained basis, a test towards 1.3550 cannot be discounted."