JP Morgan says its Fair Value Model has EUR/USD at 1.10

The European Central Bank cut rates on Thursday:

• Forexlive Americas FX news wrap 6 Jun: ECB cuts rates but it is a hawkish cut.

JP Morgan says future rate cuts from the Bank my be delayed because of accelerating growth in the eurozone – JPM see it picking up. Analysts at the bank are expecting the ECB to remain on hold at the July meeting, forecasting the next rate cut at the September meeting.

UBS, meanwhile, nominate a cut each quarter from the European Central Bank ahead. UBS says rate cuts now are not stimulus, but are keeping the real interest rate steady.

JPM says its Fair Value Model for EUR/USD is at 1.10.

This article was written by Eamonn Sheridan at www.forexlive.com.