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2 Aug 2013
Flash: Central Banks lack influence over EUR/USD - Danske Bank
FXstreet.com (Barcelona) - Danske Bank analysts feel that in terms of EUR/USD neither the FOMC nor the ECB managed to deliver any significant news.
Key Quotes
“The FOMC statement did have a dovish twist but did not give a pre-commitment to tapering at the September meeting, which remains data dependent.”
“Draghi did not reveal what ‘extended period’ means in terms of length but he did say that ‘rate hike expectations in the money markets are unwarranted’.”
“Hence, a rate hike is clearly not on the agenda in Europe but so far the ECB sees no need to fight rising money market rates, which remains a supporting factor for EUR/USD.”
Key Quotes
“The FOMC statement did have a dovish twist but did not give a pre-commitment to tapering at the September meeting, which remains data dependent.”
“Draghi did not reveal what ‘extended period’ means in terms of length but he did say that ‘rate hike expectations in the money markets are unwarranted’.”
“Hence, a rate hike is clearly not on the agenda in Europe but so far the ECB sees no need to fight rising money market rates, which remains a supporting factor for EUR/USD.”