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14 Mar 2014
Flash: EUR/USD: verbal FX intervention by the ECB – UBS
FXStreet (Córdoba) - The UBS analyst team note ECB verbal interventions sent EUR/USD below 1.3900 and they expect the pair to fall when the situation about Crimea is clearer.
Key Quotes
"Roughly one week after the March ECB meeting Mario Draghi showed increasing worries about the impact of a rising euro on the European inflation".
"Also the President of the Bundesbank, Jens Weidmann, mentioned the negative impact of the euro on the inflation outlook. These verbal interventions have sent EUR/USD below 1.39".
"A disappointingly low US consumer sentiment and rumors about Russia have lifted the currency pair again".
"We expect EUR/USD to fall when the situation about Crimea is clearer."
Key Quotes
"Roughly one week after the March ECB meeting Mario Draghi showed increasing worries about the impact of a rising euro on the European inflation".
"Also the President of the Bundesbank, Jens Weidmann, mentioned the negative impact of the euro on the inflation outlook. These verbal interventions have sent EUR/USD below 1.39".
"A disappointingly low US consumer sentiment and rumors about Russia have lifted the currency pair again".
"We expect EUR/USD to fall when the situation about Crimea is clearer."