drifts but underlying support from narrower spreads remains intact, Shaun Osborne, Chief FX Strategist at Scotiabank, reports.“Given elevated core inflation data, it seems likely to me that policy hawks will continue to push for rate hikes outside of more severe market turmoil. A 25 bps hike is more or less fully priced in for May 4th at this point.
“A break under 1.0880 support would imply the risk of a short-term dip at least in the EUR back to the 1.08 area. Broader trends remain EUR-bullish, however, implying the EUR should find firm support on dips.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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