Conditions for sustained USD weakness not fully in place ...Middle East

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Conditions for sustained USD weakness not fully in place
• The bank suggests that EURUSD is overvalued, and that the pair has overshot its fundamentals• Thinks near-term fair value is closer to 1.10 for EURUSD• They expect better US data in coming months to push back on excessive rate cut expectations to support the USD• Believes 100bp of cuts priced for the Fed by year-end is excessive This article was written by Arno V Venter at www.forexlive.com.

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