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2021/06/22 / Erste Group Research

USD: Firmer for now, sideways in medium term

The EURUSD reacted sharply to the outcome of the latest meeting of the FOMC, the US Federal Reserve's monetary policy-making body. The monetary policy stance was left essentially unchanged. However, there were changes in the forecasts of the meeting participants, which are polled quarterly.

After the FOMC meeting participants pushed forward expectations for interest rate hikes in the US to June 16, there was increased volatility in the financial markets. This environment triggered a strengthening of the yen against the euro.

The franc strengthened to a level of 1.09 against the euro in June. A strong rise in inflation in the Eurozone and especially in the US strengthened the franc. We assume that the rise in inflation in both currency areas should be temporary. In this environment, we expect the franc to weaken again against the euro.

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General information

AuthorErste Group Research
Product nameForex News
Topic in focusFX, Macro/ Fixed income
Economy in focusEurozone, Japan, Switzerland, United States
Currency in focusEuro, Swiss Franc, US Dollar
Sector in focus-


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