Euro To 'Easily' Drop Below 1.30 On A Bad Outcome Of Italian Elections - Deutsche Bank
Quote of the day:
"I'm concerned about the outcome of the Italian elections. I think the currency market is also starting to reflect that as well. I think if you get the wrong results in Italy and the wrong results would be something like the hung parliament scenario, we could easily see another two figures on the downside as far as the EUR/USD is concerned. We can certainly move below 1.30 at a minimum temporarily. Despite talks of currency wars, this will be bad for the euro area in general. I think fragmentation in terms of any large country politics becomes a decisive force within the euro area as a whole. So, you don't want an outcome like that for sure. That is not a victory; that is a failure."
Alan Ruskin, global head of G-10 foreign-exchange strategy at Deutsche Bank (Source: Bloomberg TV)