A slow grind back to euro parity
MARKET NEWS
The likelihood of a more pronounced economic downturn in the US should see the euro slowly heading towards parity, but it’s still a long road ahead, says Monica Fan, senior G10 strategist at Bank of America in London
It was two steps forwards and one step back for the euro last week as it failed to crack 0.9900 against the dollar. The US dollar had strengthened ahead of last Tuesday’s FOMC meeting on the slender hope that the Federal Reserve would reduce the Fed funds rate below 1.75%. Although
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