EUR/USD risks a test of 1.12 – Westpac

Strategists at Westpac see the pair slipping towards the 1.1200 handle.

Key Quotes

“ EUR vulnerable to a yield driven decline toward 1.12, as June Fed hike probabilities edge higher amid stronger US data (retail sales and CPI) and more importantly hawkish Fedspeak, putting June on the table”.

“In the middle of an uptrend since Dec but multiple rejections of 1.15 suggest that is the top of the range”.