Commerzbank: The Euro's recovery potential may remain limited for some time
According to Golden Ten Data on June 29, Commerzbank analyst Michael Pfister stated in a report that the euro against the US dollar may take some time before seeing a substantial recovery. He mentioned that as inflation in the eurozone likely peaked in May, markets are unlikely to bet on further rate hikes by the European Central Bank. Data expected on Wednesday is anticipated to show a slight easing of inflation in June as energy prices fall. He said that since there are currently no decisive events prompting the market to price in additional Federal Reserve rate hikes, the US dollar is also expected to remain strong. "Therefore, it may take quite a long time for the EUR/USD exchange rate to return to the pre-war level of 1.18."
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