EUR/USD moved lower around a half figure on the hawkish hold from the Fed. Economists at Danske Bank analyze the pair’s outlook. Near-term USD tailwin
The outcome was about as hawkish as the Fed could have engineered without actually delivering a surprise hike.
We think that peak policy rates, improving manufacturing sector relative to the service sector and/or easing pessimism priced on China could add some support to EUR/USD within the next month. On the longer horizon, however, we maintain our strategic case for a lower EUR/USD, expecting the cross at 1.03 in 12M.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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