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7 Mar 2013
Forex Flash: Sell EUR/USD rallies; target at 1.27 in 1 month - Westpac
The US dollar continues to be backed up by some inspiring data in the US, but as Westpac notes, "European data/event risk suggests selling EUR/USD rallies is the best play on majors." The banks targets 1.27 on a 1mth horizon.
"A probable dovish Draghi press briefing and upside risks to US payrolls (where the USD has shown a habit lately of rallying on better than expected outcomes) should sustain EUR’s recent trend decline" Westpac adds.
"A probable dovish Draghi press briefing and upside risks to US payrolls (where the USD has shown a habit lately of rallying on better than expected outcomes) should sustain EUR’s recent trend decline" Westpac adds.