FX major’s outlook: watching Brexit – ANZ

By FXStreet Analysts at ANZ explained that has been the case for a few months now, EUR/USD remains sandwiched between competing forces – while higher US rates are weighing, fears of heightened volatility are containing losses.

Key Quotes:

“It will be make or break for the GBP – the Brexit vote is on23 June. If the UK remains, then GBP will be incredibly cheap. An exit, however, will drive a sharp decline.

The JPY remains caught between a big current account surplus and the possibility of further easing – we think the surplus wins.

AUD and NZD remain elevated; the AUD has started to decline and we anticipate that this will continue, while the strong domestic data pulse will temper any NZD weakening. In Asia, we see continued weakness across the board.”
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Source:: FX Street