Societe Generale Cross Asset Strategy discusses EUR/USD outlook in light of the outcome of yesterday's ECB meeting, and thinks that dips should be seen as attractive buying opportunity.
"Mario Draghi didn't sound bothered about the EUR/USD uptrend uptrend and so it rolls on. The cat's out of the bag and corrections are a chance to buy. EUR/USD has averaged 1.29 for the past decade, which is close to the average of the various long-term valuations we monitor.
Corrections are a chance to buy not just the euro but those currencies that benefit from strong European growth, i.e. PLN, CZK, SEK and NOK in particular," SocGen argues.
Source: Societe Generale Cross Asset ResearchOriginal Article
