EURUSD can still make a run towards 0.95, USDJPY can still retest 150 – ING
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The US Dollar is higher after the Fed raised rates by 75 basis points again. Economists at ING believe that the EURUSD pair is set to challenge the 0.95 level.
“Expectations of the policy rate being taken to 5% into early next year, inverting the yield curve still further, is a dollar positive.”
“We think the balance of risks still favour a stronger dollar, particularly against European currencies where we see growth substantially below consensus over coming quarters.”
“EURUSD can still make a run towards 0.95 over coming months and USDJPY can still retest 150.”
“Where interest in the carry trade could emerge is in Latin America. Here the risk-adjusted implied yields of the Mexican peso are 50% above those for the Brazilian real and USDMXN could retest the year’s lows at 19.42 should any key US data disappoint.”
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