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Jakob Christensen, chief analyst at Danske Bank, suggests that they are stressing that EUR/USD is in the hands of policy makers.

Key Quotes

“The current policy inaction will keep EUR/USD in the current range, while it creates downside risks to our 1M and 3M forecasts of 1.12 and 1.13 if it further deteriorates risk sentiment.”

“If policy makers in the US and China step up and manage a trade deal and/or ease monetary policy it would create the foundation for a higher EUR/USD. This is not a story for the short-term, though.”