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EU-US divergence keeps EUR subdued – Danske Bank

FXStreet (Edinburgh) - According to Kasper Kirkegaard, Chief Analyst at Danske Bank, the EU-US swap spread explains the current weakness surrounding the common currency.

Key Quotes

EUR/USD posted a new 2014 low yesterday as spot broke briefly below 1.27”.

“The trend has been very strong lately but is supported by the relative re-pricing in money markets”.

“Since March the 2Y Europe-US swap spread has gone from flat to -60bp, underlining the marked difference in how investors see monetary policy next year across the Atlantic”.

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