16 Jan 2015
EUR crosses revised lower - Rabobank
FXStreet (Guatemala) - Jane Foley, Senior Currency Strategist at Rabobank said today, that they were revising lower many of their EUR cross rates.
Key quotes:
"We doubt if the SNB’s negative interest rate will be sufficient to fully negate the CHF’s status as a safe haven asset in times of extreme market stress – since this is drawn from the country’s strong and credible current account, budget and legislative positions."
"However, as interest rates continue to fall in Europe, it is possible that currencies that still offer yield will find support. Yesterday, the AUD was emboldened by strong employment data."
"If oil prices show signs of stabilising, the RBA and the RBNZ could see their hopes of weaker domestic currencies evaporating."
"The developed world is in the throes of a currency war and for the time being the ECB has the upper hand."
Key quotes:
"We doubt if the SNB’s negative interest rate will be sufficient to fully negate the CHF’s status as a safe haven asset in times of extreme market stress – since this is drawn from the country’s strong and credible current account, budget and legislative positions."
"However, as interest rates continue to fall in Europe, it is possible that currencies that still offer yield will find support. Yesterday, the AUD was emboldened by strong employment data."
"If oil prices show signs of stabilising, the RBA and the RBNZ could see their hopes of weaker domestic currencies evaporating."
"The developed world is in the throes of a currency war and for the time being the ECB has the upper hand."