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What is the outlook for EUR in the near-term, with the ECB meeting in early June?

Here is their view, courtesy of eFXdata:

Credit Agricole CIB Research discusses its expectations for the ECB June meeting and sees a scope for a limited EUR upside in the near-term.

We therefore believe that the balance of risks ahead of the 10 June policy meeting now favours a delay of PEPP taper – a decision that could weigh on EGB yields and the EUR in coming weeks,” CACIB notes.

“While evidence of further improvement of the Eurozone growth and inflation outlook should be positive for the EUR, its overvaluation and  growing investor cautiousness ahead of the June ECB meeting should limit any EUR upside in the near term in our view,”  CACIB adds.

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