Societe Generale Cross Asset Strategy Research discusses EUR/USD outlook, arguing that the pair is likely to consolidate into year end as it prepare for another big move higher next year.
"The euro and yen are both undervalued and have scope to rise significantly. In the very short term, the euro has over-reacted in anticipation of early monetary policy normalisation, but it’s got a good way further to go over time.
….The rest of 2017 may be more about a tired risk rally and the baggage of positions, but the euro is busily building the foundations of another 10% of upside against the dollar," SocGen argues.
Source: Societe Generale Cross Asset ResearchOriginal Article
