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- EUR/USD: Rally could extend further – MUFG
EUR/USD: Rally could extend further – MUFG
MUFG’s short-term EUR/USD valuation model (STVM) has shot considerably higher than spot opening a large divergence. Economists at the bank expect the EUR/USD pair to extend its race higher.
EUR/USD short-term valuation model points to higher spot
“If risk conditions remain favourable the most likely scenario in our view is that EUR/USD will follow the lead of the STVM and continue to grind higher.”
“Only a re-emergence of tighter financial conditions would scupper this scenario now over the short-term. That of course is plausible now given the renewed surge in crude oil prices.”
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