As tensions mount between China and the US and as fears of a second wave increase in parts of Asia and Europe, economists at Rabobank are of the view that the rush to sell USD is overdone. They expect a EUR/USD pullback to the 1.16 zone in the coming weeks. Key quotes “Given concerns over a second wave of coronavirus and fears about what that could do to the global economy in addition to rising China tensions, we see risk that the recent rush to unload USDs may have extended too far.” “The world’s need for dollars almost certainly means that there will be a scurry to secure USD funds on any further breakdown in market confidence.” “We expect a pullback towards the EUR/USD 1.16 area in the weeks ahead.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY to extend gains once above 106.45 FX Street 2 years As tensions mount between China and the US and as fears of a second wave increase in parts of Asia and Europe, economists at Rabobank are of the view that the rush to sell USD is overdone. They expect a EUR/USD pullback to the 1.16 zone in the coming weeks. Key quotes “Given concerns over a second wave of coronavirus and fears about what that could do to the global economy in addition to rising China tensions, we see risk that the recent rush to unload USDs may have extended too far.” “The world’s need for dollars almost certainly means… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
