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EUR/USD Expect attention to return to the 1.2400 floor – OCBC

FXStreet (Barcelona) - Research Analysts at OCBC Bank see the EUR/USD pair returning to the 1.2400 levels in the interim as the ECB gets ready to take additional policy actions.

Key Quotes

“The EUR-USD reverted lower within familiar ranges on Wednesday and investors may look to German October inflation readings for further cues.”

“Structurally, the OECD characterized its latest leading indicator reading for the EZ economy as “growth losing momentum” while the ECB’s Draghi stated yesterday reiterated that the Bank stands ready to take additional unconventional policy actions if inflation expectations do not pick up."

"In the interim, expect attention to return to the 1.2400 floor with the recent low around 1.2358 also in the vicinity.”

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