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Yushin Bank: Divergence in US and European central bank policies may push EUR/USD above 1.20

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ME News, April 27 (UTC+8). A strategist at YuXin Bank Investment Research Institute said that if the European Central Bank raises rates later this year while the U.S. Federal Reserve cuts rates, EUR/USD is expected to rebound to above 1.20. In their report, they pointed out that the European Central Bank is very likely to keep interest rates unchanged on Thursday, waiting for more information on how the Iran war will affect inflation. However, they said the European Central Bank may raise rates in June and September. By contrast, the Fed may cut rates in December. A narrowing yield spread could drive EUR/USD to this year’s highest level so far at 1.2078, although “this needs to wait until the risk premium triggered by the current war has fully dissipated.” (Source: Jinshi)
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