• EUR/USD is likely to fall further, but the declines will "probably be a slow grind," says Societe Generale

Market news

9 October 2018

EUR/USD is likely to fall further, but the declines will "probably be a slow grind," says Societe Generale

EUR/USD is likely to fall further, but the declines will "probably be a slow grind," says Societe Generale. It is "obvious from the intra-day price action that the area between 1.1475 and 1.1500 is holding firm." But "positioning for the EU/Brexit dinner next week and for Italy's ratings review later in the month still favour a bearish skew" in EUR/USD, SocGen says. The 2.5% decline since end-September "may not be the end of the mini-correction that has seen the pair retreat from 1.1815 to below 1.15" - via WSJ.

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