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Interest rates to drive EURUSD lower – Rabobank

FXStreet (Delhi) – Research Team at Rabobank, suggest that while Yellen’s speech is keenly awaited, the market appears to have taken on board the messages offered by policy makers in recent days and EURUSD is likely to head southwards, supported by the interest rates.

Key Quotes

“Measured from the end of last week, the USD has reclaimed ground against all other G10 currencies with the exception of the JPY against which it is little changed.”

“Based on our expectation that the Fed is likely to hike interest rates in December with the ECB announces a broadening in its QE policy we maintain our expectation that interest rates are set to drive EUR/USD lower medium-term. Our 3 mth forecast is 1.10, our 12 mth forecast remains at 1.05.”

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