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- EUR/USD: Likely not ready to accept > 1.20; watching for ECB rhetorical intervention - Nordea
EUR/USD: Likely not ready to accept > 1.20; watching for ECB rhetorical intervention - Nordea
eFXdata reports that Nordea Research flags a scope for ECB rhetorical intervention if EUR/USD continues to rise above 1.20 over the coming weeks.
"The ECB is by the way probably not ready to accept >1.20 levels without a battle either. They managed to temporarily temper the EUR/USD momentum in August and September 2017 when sources kept leaking stories to Reuters and Bloomberg every time 1.20 was breached.
"We are on alert of a similar rhetorical intervention from Frankfurt should the EUR/USD gain too fast again this autumn," Nordea notes.
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