Keep Selling EUR Against These 2 Currencies - Credit Agricole
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In Asian hours risks sentiment improved further, with US stock futures trading higher at the time of writing. This is mainly due to central bank President Draghi making a bigger case of additional policy measures being considered as part of the March meeting.
In an environment of more muted external demand expectations as related to Asia, weak commodity price developments and a currency, which still trades well above last year’s low, ECB easing expectations should remain well supported to the detriment of the single currency.
As such we expect the currency to remain a sell, against both the GBP and USD. This is especially true should the Fed refrain from turning more dovish next week.
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