Time to sell the euro, EUR-USD forecasted to fall by 0.5% - 1.5%

Leander Dreyer at Jyske Bank today tells us:

"We recommend that investors increase purchases of USD to hedge expenses in USD. We think the current level is attractive, particularly in the 6M+ horizon.
"In the short term (0-1M) EURUSD is caught above 135.50 and the pressure to the upside will continue as long as the political deadlock in the US has not been resolved. We expect that EURUSD will peak at a level between 136-137.

"Hence we signal that we are seeing an attractive long-term area for selling EURUSD. There is definitely that risk that EURUSD may briefly reach a level up to 140 as long as the financial market is hesitant.

"Once the fiscal-policy negotiations in the US reach a solution, it is to be expected that EURUSD will fall by 0.5% - 1.5%."

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