EUR/USD: Breaking above 1.11 may require more than a hawkish ECB in the face of mediocre growth – SocGen

Kit Juckes, Foreign Exchange Chief Global FX Strategist at Société Générale, analyzes EUR/USD outlook after yesterday’s ECB meeting.

EUR/USD looks set to edge back toward the April high just below 1.11

The ECB move yesterday has given the Euro a good lift, and we look set to edge back toward the April high, just below 1.11. But breaking higher than that may require more than a hawkish central bank in the face of mediocre growth. 

The growth outlook needs to improve on this side of the Atlantic, outright and relative to the US, if we’re to see EUR/USD at 1.15.