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Antje Praefcke, FX analyst at Commerzbank, analyzes the outlook for EUR/USD.
Euro still faces downside risks
“I’m concerned that a sustained rally in the euro is unlikely in the short term and may have to be tolerated around 1.0700 against the dollar.”
“I wouldn’t be surprised at all if the market adjusts expectations for the CPI data a little bit. But nonetheless: if today’s inflation data surprises to the downside, it will likely adjust its expectations further. And in my view, because of this risk Indeed, the euro may continue to face headwind risks.
