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2021/04/29 / Erste Group Research

Economic optimism weakens the franc

In mid-April, the euro rose above the 1.2 dollar mark again for more than a month. The reason for this was the increasing pace of vaccination in the Eurozone and thus the brightening of the economic outlook. However, we expect a countermovement here as well.

In the wake of the global rise in yields, the yen restarted its downward trend against the euro. The reason for this is, among other things, increased economic optimism.

By breaking above the 1.085 mark, the EURCHF exchange rate was able to sustainably break out of its previous sideways trend. This was triggered primarily by rising yields at the global level, which among other things reflects the increased optimism regarding the economy.

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General information

AuthorErste Group Research
Date2021/04/29
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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