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EUR/USD bearish outlook still intact – Danske Bank

FXStreet (Edinburgh) - Senior Analyst at Danske Bank Jens Pedersen, sees the bearish outlook on the pair still unchanged.

Key Quotes

“The weak US job report pushed EUR/USD momentarily above 1.13 on Friday as the market is now discounting the probability of a Federal Reserve rate hike this year”.

“Monetary policy divergence is still on the agenda though, as we are still looking for a near-term US rate hike, albeit not before the beginning of next year and the ECB to announce an extension of bond purchases at the December”.

“Hence, some downside potential should still be left in EUR/USD”.

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