TD Securities: cheap euro to rise if car tariffs don’t get in the way

Long-term risks play in single currency’s favour, says Canadian bank

Cars on forecourt from above
Driving force: EUR/USD could break recent lows if the US were to impose tariffs on eurozone car exports this week

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The euro will nudge up against the dollar over the remainder of the year, and into 2020, if looming tariffs on European car exports to the US do not materialise this week, says Ned Rumpeltin, head of European currency strategy at TD Securities.

While volatility in the foreign exchange market seems to have bottomed out, the Canadian bank does not expect a substantial pick-up in volatility levels or major currency

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