BBH: EUR/USD Faces Downside Risk Ahead of ECB Hike
Brown Brothers Harriman’s Elias Haddad warns that EUR/USD is trading defensively near 1.1530 ahead of an expected 25 bps ECB rate hike to 2.25%, with updated projections likely being downgraded.
EURUSD
Brown Brothers Harriman (BBH) analyst Elias Haddad notes that EUR/USD is trading defensively around 1.1530, facing downside risk as the market awaits a widely expected 25 basis point rate hike from the European Central Bank, which would bring the deposit rate to 2.25%.
According to Haddad, the updated ECB economic projections are likely to be downgraded, reinforcing the bearish outlook for the euro against the US dollar. The analyst points to a defensive tone in the pair ahead of the decision.
Source: FXStreet Forex News