EUR weakness set to persist

May 29, 2015

Strategists at TD Securities keep the bearish outlook on the pair unchanged. 

Key Quotes

“A reversal of fortune in the EUR after an unexplained selloff in German bunds and repricing of EZ macro risks (better growth than initially expected) drove EUR strength”.

“The realization that QE will remain in place for the long run should keep the primary trend in EURUSD lower (a delay in the Fed hike is a risk to this view)”.

“Positive basic balance is mostly German driven s o a low EUR is needed to redistribute wealth in EZ”. 

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