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13 Aug 2013
Flash: EUR/USD 1.3500 level not out of reach - Westpac
FXstreet.com (New York) - Sean Callow, a Global FX Strategist at Westpac analyzes the short-term outlook of the EUR/USD.
Key quotes
In terms of the EUR/USD, “no news is good news for the euro, with the European summer doldrums helping, given the Eurozone runs a current a/c surplus.”
“A year ago the ECB was working on the OMT; this Aug looks more relaxing, even if plenty of dangers remain in the autumn.”
“The 1.3400 target remains the initial focus, with 1.35 not out of reach. Our multi-week bias is to sell this rally but this week seems too soon, even if Greek financial woes continue to weigh.”
Key quotes
In terms of the EUR/USD, “no news is good news for the euro, with the European summer doldrums helping, given the Eurozone runs a current a/c surplus.”
“A year ago the ECB was working on the OMT; this Aug looks more relaxing, even if plenty of dangers remain in the autumn.”
“The 1.3400 target remains the initial focus, with 1.35 not out of reach. Our multi-week bias is to sell this rally but this week seems too soon, even if Greek financial woes continue to weigh.”