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- EUR/JPY: Gains seem likely to reverse – SocGen
EUR/JPY: Gains seem likely to reverse – SocGen
EUR/JPY surged to nearly 160. Economists at Société Générale expect the pair to turn back lower.
A dovish ECB hike may keep the Euro under pressure
Since start-August, EUR/USD has been stuck below 1.10, and a last 25 bps hike to 4% is expected next month. But the ECB also reckons that Euro area core inflation has probably peaked, so a dovish hike may keep the Euro under pressure.
With EUR/JPY heading towards 160, the bullish forces are running out of steam and gains seem likely to reverse.
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