EUR/USD could struggle to cling on to 1.10 – SocGen

Market news

8 August 2023

EUR/USD could struggle to cling on to 1.10 – SocGen

Euro steady at 1.10. Aussie thunders towards 0.65. Economists at analyze the outlook of EUR/USD and AUD/USD pairs

AUD/USD could return to the May/June low of 0.6458

EUR/USD mostly ignored the weakness in Yen and Yuan but could struggle to cling on to 1.10 as European stocks and yields retreat.

The AUD is the biggest faller in G10 after the slump in Chinese imports. A return to the May/June low of 0.6458 could follow.

See: EUR/USD unlikely to drift away from a 1.09-1.11 range this month – ING

GBP/JPY surrenders a major part of its intraday gains, up a little below mid-182.00s

USD/CNH: No changes to the side-lined trading – UOB

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