EURUSD: 1.08 on the cards - SocGen

Kit Juckes, Research Analyst at Societe Generale, notes that the EUR/USD has fallen quickly to 1.10 after breaking support at 1.1130.

Key Quotes

“That may be more of a psychological than technical support, but a break could well open the way to a move to 1.08, which would look like a big move in the context of the recent range. Relative rates/yields in real or nominal terms, don’t really provide much support for meaningful Euro weakness, and while that won’t prevent a slip towards 1.08, something more fundamental would need to turn up to justify a break of that.”