EUR – The euro strengthened for a third straight session on Tuesday, supported by a Reuters report that suggested the ECB is a bigger-than-expected 50 basis point hike at their meeting on Thursday, in an effort to tame record-high inflation.
Despite the EUR-positive report, Action Economic warns: “If Lagarde doesn’t deliver, or doesn’t deliver as much as traders are hoping for, parity is likely to be taken out lastingly.”
Additionally, HSBC argues: “this bounce is likely to prove short-lived and should provide better entry levels for short euro positions.”
Despite the EUR-positive report, Action Economic warns: “If Lagarde doesn’t deliver, or doesn’t deliver as much as traders are hoping for, parity is likely to be taken out lastingly.”
Additionally, HSBC argues: “this bounce is likely to prove short-lived and should provide better entry levels for short euro positions.”
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