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1.20 area is likely to contain rallies in EUR/USD - Rabobank
"We maintain our view that the 1.20 area is likely to contain rallies in EUR/USD until the end of the year and that 1.25 is still achievable on a 12 mth view. However, political developments in both the Eurozone and the US pose risks to the uptrend in EUR/USD," notes Rabobank Senior FX Strategist Jane Foley. Key quotes: "The trigger for the sell-off in EUR/USD at the start of this week was the news of Chancellor Merkel’s hollow victory in the Germany election. Merkel may have won her fourth term in power but it was the far-right AfD’s success in becoming the third largest part in the Bundestag that stole the ... (full story)