EUR/USD: heading towards 1.10 in very near term
In recent weeks, the EUR/USD has corrected far more rapidly to reach 1.12.
Developments have accelerated in the eurozone, from the Swiss National
Bank (SWB) withdrawing its floor rate and the European Central Bank’s
(ECB) announcement of bigger-than expected Quantitative Easing (QE)), to
Syriza’s sweeping victory in the Greek elections. All these events
accelerated the EUR/USD’s fall, with a low at 1.11.The ECB’s asset purchase programme of the ECB, it was bigger than expected at EUR 1,140bn through to September 2016, or EUR 60bn per month, with a possible extension if inflation does not recover near the 2% official target.
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