MUFG continues to support a long position on EUR/USD, targeting a move towards 1.1050. The bank's analysis suggests a more balanced rate cut trajectory between the ECB and the Fed than the market currently anticipates.Key Points:Yield Spread Dynamics: Initially, yield spreads indicated a growing policy divergence favorable to the US, which has recently reversed, aiding the EUR/USD recovery.Market Perception vs. Reality: Despite prevalent market expectations of increased divergence with the US potentially favoring further dollar strength, MUFG counters this view, suggesting a closer alignment in policy trajectory between the ECB and the Fed.ECB and Fed Rate Cuts: The ECB is expected to cut ra
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