EUR=X News & Analysis
Euro Zone Summit Surprise: Is Risk Back On?
29 Jun 2012 EDT - CNBC.com
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Yet previous risk rallies following euro zone decisions have been short-lived and several analysts warned that this could be the case with today’s rally.
Analysts at Sarasin warned “the storm is not over yet” in a research note. They argued that the expected slowdown in corporate earnings for the third quarter, caused by the uncertainty around the euro zone debt crisis, is still on its way and said that their company would stick to German equities ahead of core Europe.
Jose Wynne, head of U.S. foreign exchange strategy for Barclays Capital, said that he would advise “fading” any rally in the euro and predicted a weaker euro in the medium-term.
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