China covid policies are expected to stay past the communist party conference in Q3, this will restrict mobility. Europe, Russia natural gas dispute is becoming a persistent risk. Although inflation appears to be peaking in the US, the recent prints imply a very slow moderation. We do not see the EUR reaching parity vs the dollar and see the USD fading strength over time. EUR/USD is expected to strength to 1.06 in six months and 1.10 in a year. - Barclays FX Research
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