EUR: Gradual strength – Danske Bank

Chief Analyst, Jakob Christensen at Danske Bank, suggests that alongside down pressure on US yields, ECB minutes helped EUR/USD to end yesterday on a positive note in emphasising the continued push to alter guidance in a more hawkish direction.

Key Quotes

“The January accounts also contained an indirect reference to the US administration ’s USD comments around the time of the meeting, but this should in our view merely be seen as a sign that the ECB is annoyed by the political interference with FX rather than it being an obstacle for ‘normalisation’ – and gradual EUR strength with it – to move on.”