1.17 target on EUR/USD from Credit Suisse.

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Credit Suisse provided an outlook on EUR/USD yesterday. The analysts presented a target of 1.17 for this pair.

“A look at the EUR/USD implied vol curve tells us that the market is no better protected against disappointment this time than it was then. Two-week implied vol and risk-reversal skews are very similar to levels prevailing before the December ECB meeting. Back then the market was not protected enough to prevent a substantial EUR/USD rally after the ECB’s disappointment delivery. We doubt it is any better placed now” written in the report.

A photo taken on November 1, 2011 shows the logo of the Swiss banking giant Credit Suisse in Zurich. Credit Suisse said on November 1 that third-quarter net profit rose 12 percent from a year ago to 683 million francs (562 million euros, 776 million US dollars), but said it would cut staff by three percent. AFP PHOTO / FABRICE COFFRINI (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)

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