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- EUR/USD may not escape a sub-parity paradigm and tumble to 0.85/0.90 – TDS
EUR/USD may not escape a sub-parity paradigm and tumble to 0.85/0.90 – TDS
How low can EUR/USD go? Economists at TD Securities note that the world’s most popular currency pair could test the 0.90/0.85 region.
More EUR downside to be had
“With EUR/USD near parity, the more pressing question is whether this will offer solid support. While we expect some defense at this level, EUR/USD may not escape a sub-parity paradigm and 0.85/0.90 could soon become reality.”
“It is too much to ask for capital flows to offset the erosion in trade, leaving EUR's much-heralded current account a drag for the currency.”
“EUR/USD is following a similar profile to the last Fed cycle, suggesting more EUR downside to be had.”
“Relative curve pricing and equity performance keep the prospects of EUR upside remote.”
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