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EUR/USD, USD/JPY: Show US The Money; New Forecasts - Credit Suisse
Credit Suisse updates its outlook for the EUR and JPY in response to their ongoing price-action where they rank among those considered "defensive" or "funding" currencies which tend to rally amid risk-averse market conditions. The following are the key points constituting CS' outlook for the 2 currencies along with its new 3- and 12- months forecasts for EUR/USD, and USD/JPY. 1- Last week our economists revised their forecast for the first Fed rate hike, pushing it back to December, from September originally (Further delay is likely). 2- In the meanwhile, volatility in global risk markets has picked up sharply, ... (full story)