August 12, 2024 at 02:31AM
UBS Global Wealth Management mull the wild swings in markets last week, noting only a mild impact on EUR/USD.
expect the rate to rise gradually
says US exceptionalism (the US economy outperforms the rest of the world) was key to the Federal Open Market Committee (FOMC) holding higher (than other global central banks) for longer
exceptionalism will now fade
leading to Fed rate cuts and a rising EUR/USD
warn that the US election might lead to short-term setbacks, but advised to build lone EUR/USD into any of these
This article was written by Eamonn Sheridan at www.forexlive.com.
UBS expect EUR/USD to gradually rise as US exceptionalism ebbs