SinaUS Stock News, January 18ScotiabankForeign exchange strategist Juan Manuel Herrera Betancourt said that the euro's fall below the psychological threshold of $1,1100 represents a “clear buying opportunity.”

Scotiabank said, “We maintain an overall bullish view of the euro, especially considering the recent improved economic data. The ECB is clearly on the sidelines, and there is no indication that it will introduce more stimulus measures.”

Betancourt said that in view of the combined decline of the euro and pound after the release of weak UK retail sales data, “I suggest not to overinterpret the UK's fourth quarter economic data, as it coincided with the impact of Brexit and election risks.”

Betancourt said the fair value of the EUR/USD exchange rate was around 1.14.

Responsible editor: Zhang Ning