|2022/06/21 / Erste Group Research|
Currencies in an uncertain environment
EURUSD should remain in a sideways movement around 1.05 for the time being. Swings in both directions around this value were recently only short-lived, and the incoming date should remain volatile. A tenacious inflation should be countered by signs of an economic slowdown.
Due to the Ukraine war and high inflation, we expect weaker economic data in the Eurozone in the coming months, which will cause yields on medium and long maturities to decline. In this environment, the yen should gradually strengthen somewhat against the euro.
We forecast the Swiss franc against the euro to remain at a stable exchange rate level of 1.02 for the time being. In the coming months, however, the exchange rate will also depend very much on the speed and extent to which the ECB raises the key rate.
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|Author||Erste Group Research|
|Product name||Forex News|
|Topic in focus||FX, Macro/ Fixed income|
|Economy in focus||Eurozone, Japan, Switzerland, United States|
|Currency in focus||Euro, Swiss Franc, US Dollar|
|Sector in focus||-|
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