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2022/07/21 / Erste Group Research

Euro under pressure

Uncertainty will remain high and this argues for a continued weak euro. We therefore expect the EURUSD to remain in a range of 1-1.05 for the time being in a generally very uncertain environment. With the end of winter, fears of gas supply shortages should subside and the euro should gain.

We expect a firmer yen against the euro in the longer term. If the Bank of Japan were to lift its control over the yield curve, the level of yields in Japan would also rise. This could reinforce an appreciation of the yen against the euro.

The current deteriorating economic outlook should have a sustained dampening effect on Eurozone yields. In this environment, therefore, there is very little to be said for a weaker franc. If geopolitical risks worsen, the franc could strengthen further against the euro at any time.

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General information

AuthorErste Group Research
Date2022/07/21
Languageen
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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