VW crisis effect on the Euro
Discussion
Like Nickfrog says, the VW will have little/no effect on the strength/weakness of the euro.
Most forecasts still suggest EUR weakness over the coming weeks/months. Att current levels against the Pound 1.35/1.36(ish) it seems to be at the bottom of the current range and may soon swing bay towards the higher end of the range (1.38/1.39 ish).
It will take something significant to break out of this range, and most banks are suggesting the next break will be higher towards 1.40 and beyond.
Against the US Dollar, the Euro is also expected to weaken. With Janet Yellen suggesting that conditions in the US are suitable for an interest rate hike this year, the dollar could push back towards the recent lows of around 1.05ish.
Chris Canning.
Most forecasts still suggest EUR weakness over the coming weeks/months. Att current levels against the Pound 1.35/1.36(ish) it seems to be at the bottom of the current range and may soon swing bay towards the higher end of the range (1.38/1.39 ish).
It will take something significant to break out of this range, and most banks are suggesting the next break will be higher towards 1.40 and beyond.
Against the US Dollar, the Euro is also expected to weaken. With Janet Yellen suggesting that conditions in the US are suitable for an interest rate hike this year, the dollar could push back towards the recent lows of around 1.05ish.
Chris Canning.
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