CURRENCY WATCH


FX


EUR/USD RANGE-TRADING


ECB Fed


is the


programme will remain unchanged until the end of


preparing year


(compressing already pricing this upside in on the (compressing euro).


is hiking rates and confirming expectations for another increase by the end of the year, but the market is


upside potential on the dollar, limiting downside on the euro).


The ECB and Fed meetings in June better “clarified” the monetary policy outlook for the next few months, mostly prospecting a range trading phase for the


euro, at least in the near term. At


the same time, in the


United States developments on the political front resulted


in the dollar reabsorbing all its post-Trump victory appreciation, shifting focus back on fundamentals. We will take it from here.


FX TRADER MAGAZINE July - September 2017 41


a


reversal,


but


rates


and


the


QE


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