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11 Jun 2014
ECB measures still weighing on EUR - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, observes the recent ECB easing measures keep the EUR demand under pressure.
Key Quotes
"The ECB’s package of easing measures continues to weigh on the euro in the near-term as yield spreads between the rest of the world and the euro-zone widen. The recent pick up in US yields is reinforcing downward pressure on the EUR/USD rate which is approaching a key pivot area between the 1.3450 and 1.3500 levels."
"A break below those key support levels would technically mark an end to the up trend which has been in place since the summer of 2012. We expect downward pressure on the euro to gradually build in the year ahead as the BoE and Fed move closer to raising rates while the ECB may need to ease monetary policy further still."
"ECB Governing Council member Makuch reiterated yesterday that the “ECB would take action if the latest measures are insufficient” and that “interest rates will be low for a long time”. The ECB are not expected to begin raising rates until at least late 2016 or beyond."
Key Quotes
"The ECB’s package of easing measures continues to weigh on the euro in the near-term as yield spreads between the rest of the world and the euro-zone widen. The recent pick up in US yields is reinforcing downward pressure on the EUR/USD rate which is approaching a key pivot area between the 1.3450 and 1.3500 levels."
"A break below those key support levels would technically mark an end to the up trend which has been in place since the summer of 2012. We expect downward pressure on the euro to gradually build in the year ahead as the BoE and Fed move closer to raising rates while the ECB may need to ease monetary policy further still."
"ECB Governing Council member Makuch reiterated yesterday that the “ECB would take action if the latest measures are insufficient” and that “interest rates will be low for a long time”. The ECB are not expected to begin raising rates until at least late 2016 or beyond."