TBC Capital published update From Chief Economist Report. According to the document, many indicators point to the strengthening of EUR againist USD.
"On the international side, on the back of strong labor market data and higher-than-expected inflation in the US, USD yields increased, and the greenback regained some of its recently lost value. Nevertheless, the market outlook for the relevant yields is still favoring the EUR, rather than the USD, as well as a number of medium-term indicators, such as the REER and the PPP estimate.
In the Georgian context, when taking an FX risk, our stance is broadly unchanged with suggested shares of the currencies depending on the spot EUR/USD value", - TBC Capital reported.
