This move is not over
With EURUSD having already shed about 1.2% since Thursday’s ECB press conference, it’s worth asking how much further it can fall. Considerably further, in our view. We would not be surprised to see another four big figures of downside over the next four weeks. That would allow enough time for the market to digest the May flash CPI on June 3, the next ECB policy decision on June 5, and US non-farm payrolls on June 6.
Read the full report: UBS