10 Dec 2013
Flash: EUR/USD to top out soon – UBS
FXstreet.com (Córdoba) - The EUR/USD has continued to rise due to tighter conditions on the money market, commented the UBS analyst team.
Key Quotes
"The three month deposit rate has risen to 24 bps from levels below 20 basis points in the past".
"EURUSD is approaching the upper end of our 1.30-1.38 trading range and we do not expect this situation to persist".
"The higher interest rates might be a year-end phenomenon and do not correspond to the ECB's easing bias. We consequently expect EURUSD to top out soon".
Key Quotes
"The three month deposit rate has risen to 24 bps from levels below 20 basis points in the past".
"EURUSD is approaching the upper end of our 1.30-1.38 trading range and we do not expect this situation to persist".
"The higher interest rates might be a year-end phenomenon and do not correspond to the ECB's easing bias. We consequently expect EURUSD to top out soon".