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23 Aug 2013
Flash: EUR/USD should fall to 1.28 in 3 months - UBS
FXstreet.com (Córdoba) - The consumer confidence index for the Eurozone increased for the ninth consecutive month, rising to the highest level since July 2011. On Friday, the UBS analyst team commented about the indicator and the EUR/USD.
Key Quotes
“The EUR did not react with much enthusiasm. Moreover, the detailed split of German Q2 GDP data showed a worryingly high dependence on construction as a growth driver, which is making up for bad weather effects from Q1”.
“With the biggest positive surprises from the Eurozone likely behind us, we believe that the EURUSD should fall to 1.28 in 3 months”.
Key Quotes
“The EUR did not react with much enthusiasm. Moreover, the detailed split of German Q2 GDP data showed a worryingly high dependence on construction as a growth driver, which is making up for bad weather effects from Q1”.
“With the biggest positive surprises from the Eurozone likely behind us, we believe that the EURUSD should fall to 1.28 in 3 months”.