26.08.2016 - We expect a strong movement of the euro prices

Speech by Fed chief Janet Yellen at a symposium in Jackson Hole (14:00 GMT) will lead to a strong increase in volatility in the euro price. It is worth noting that a number of Fed officials previously noted the need to normalize monetary policy in the country against the backdrop of rising inflation and bringing the unemployment rate to the natural. Hawkish rhetoric of Mrs. Yellen according to our estimates will lead to a sharp decline in the euro against the US dollar. We maintain our medium-term negative outlook with potential targets at 1.0700 and 1.0550.

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