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EUR to trade on the weak side - Westpac

FXStreet (Barcelona) - Richard Franulovich, analyst at Westpac Banking Corporation ABN explained that despite a strong case for Fed patience, EUR is likely to trade on the weak side.

Key Quotes:

EUR is likely to trade on the weak side as the capital flow underpinnings of the currency continue to erode sharply”.

“Short term the USD looks well placed to build on the nascent signs of stability in recent days”.

“Yield spreads are likely to be one catalyst. They reliably guided the USD higher through its April-September rally and accurately foretold its pullback in October”.

“As the slide below shows US equities and high yield credit have regained their composure, leaving US2yr yields notably vulnerable to playing catch up”.

“A rise in US2yr yields to levels more consistent with where equities and credit sit should drag short term yield spreads back in the USD's favour”.

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