#EURUSD @ 1.07855 to inch higher if US debt-ceiling negotiations move closer to the so-called “X-date” – MUFG
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EUR/USD has corrected lower so far this month after failing to break above the 1.1000 level on a sustained basis in late April/early May. Economists at MUFG analyze the pair’s outlook amid US debt-ceiling negotiations.
“The main source of uncertainty for the performance of EUR/USD in the month ahead will be the US debt-ceiling negotiations.”
“We expect the EUR to strengthen against the USD if the negotiations move closer to the so-called ‘X-date’, and then reverse once a deal is reached.”
“A more timely deal to raise the debt ceiling would be better for the USD and expectations for further Fed rate hikes in the near-term.”
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