EUR: No Firework From ECB, No EUR Impact; Wait For The June Meeting – BofA

The ECB holds a policy meeting on Thursday. What will be the impact on EUR?

Here is their view, courtesy of eFXdata:

Bank of America Global Research discusses its expectations for this week’s ECB policy meeting on Thursday.

“No fireworks from the ECB, wait for the June meeting. Good news on NGEU and reopening could lead to policy mistakes. We are concerned about a mini taper-tantrum into June given lack of clarity on policy reaction function,” BofA adds.

“We see no EUR impact before more clarity on the Strategy Review, which can go either way,” BofA adds.

For lots more FX trades from major banks,  sign up to eFXplus

By signing up for eFXplus via the link above, you are directly supporting Forex Crunch.