The EURUSD exchange rate entered this important new week's trading near five-year lows after the terrible month of April.
Enter your emailThe EUR/USD exchange rate entered this important new week's trading near five-year lows after the terrible month of April. It may attempt a corrective recovery in the coming days if the Fed halts quantitative tightening on the way into the summer months.
Goldman Sachs also says that the single European currency could continue to struggle as long as the above risks overshadow the outlook for the Eurozone while the Bank's recently downgraded forecast indicates that it could take up to six months for the euro to return to its March level of 1.10. US yields will likely be choked as the gap between them and their European peers improves if the Fed today delays the widely expected start of its quantitative tightening process, which aims to reduce nearly $9 trillion in government bond and mortgage holdings.
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