EUR/USD: further EUR depreciation is possible - Nomura

Analysts at Nomura explained that further EUR depreciation is possible.

Key Quotes:

"Further EUR depreciation is possible, we believe, if the ECB avoids changing its forward guidance tomorrow, but we still judge that we are likely to have a good dip buying opportunity tomorrow, as the ECB is still likely to progress toward the normalization."

"The dovish headline and EUR depreciation today would actually make the likely dip of EUR shallower, as inflation forecast downgrade will be already priced."