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- Nordea expects EUR/USD to fall back toward 1.15 in the coming days
Nordea expects EUR/USD to fall back toward 1.15 in the coming days
The EUR/USD slips back below 1.17 after topping that level earlier. Niels Christensen, currency strategist at Nordea, expects it could fall back toward 1.15 in the coming days and weeks given the European Central Bank recently flagged interest rates wouldn't rise until at least next summer. Eurozone inflation looks unlikely to pick up sufficiently to spur a quicker raising of rates, while U.S. data remain strong and the U.S. Federal Reserve has signal led rates will rise, he says. Still, the euro's decline may be limited, as data point to speculators being close to finishing liquidating previous long euro positions, he adds. Citing WSJ
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