Bank of America remains core bearish bias on EUR/USD

Author: Eamonn Sheridan | Category: News

Comments from BoA via the folks at efx, for bank trade ideas, check out eFX Plus.

  • Despite the USD's good performance this year, solid US data and the Fed turning more hawkish recently, the strong consensus remains against the USD. 
  • Looking at the distribution of the consensus forecasts in Bloomberg in the Chart of the Day, we have been the most bearish on EURUSD and the only one with a forecast as low as 1.15, even today
Comments from BoA via the folks at efx, forbank trade ideas, checkout eFX Plus.
  • The market has also been wrong about the Fed this year and is now ignoring the ECB Strategy Review. Another weak summer tourist season is also a risk for the EUR. If US inflation continues surprising to the upside, the USD could even appreciate across the board
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