Lagarde may lecture us long and hard about real economic uncertainties. However, that would be a condition we haven't seen for a long time. In my perception, not since the summer of 2011. We may not be there yet.”
“Lagarde may lecture us long and hard about real economic uncertainties, etc., implicitly adding distinctly dovish tones to her message. But at least it's going in the direction. If the Fed ends its rate hikes earlier than the ECB and when thewill remain calm while the Fed prepares the markets for rate cuts, we'll have reached that point. Not yet, but the probability that it will be reached in the foreseeable future is increasing. This justifies further EUR strength.
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