EUR/USD to stay below 1.12 even with a resolution of Ukranian conflict – Scotiabank EURUSD Ukraine Energy Banks
climbed above 1.10, economists at Scotiabank expect the pair to trade below the 1.12 level over the coming months.“The EU’s announcement of its plan to reduce its energy dependence on imports from Russia was received with little fanfare in markets yesterday. More details on EU joint issuance and plans for additional defense spending and measures against high energy prices may surface over the coming days and give the EUR a minor lift.
“Continued steps towards détente should see the EUR climb above 1.10 but we think even a resolution to the immediate conflict will still see high energy prices and a dovish ECB that keep the EUR to below 1.12 over the coming months.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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