In a euro-bull scenario, the new mantra of "don't fight the ECB" could spur a stronger currency than consensus expects.
Current forecasts call for a stable euro, pound and franc vs. the dollar and a weaker yuan. Sustained euro-zone strength, currently expected to fade in 2018, and a new regime of Franco German reform leading the region could provide relative support, especially if U.S. political turmoil undermines anticipated tax reform and infrastructure agendas. In the other direction, "hard" and divisive Brexit negotiations could derail both British and euro-zone business confidence.
In the other direction, "hard" and divisive Brexit negotiations could derail both British and eurozone
business confidence.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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