Tuomas Välimäki: Europe's economy under the weight of power politics
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Speech by Mr Olli Rehn, Governor of the Bank of Finland, at the Bank of Finland's biannual lunch for EU Heads of Mission, Helsinki, 2 June 2026.
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4 itemsOlli Rehn: Europe's economy under the weight of power politics
Olli Rehn: Geopolitical turmoil and the eurozone
The desk believes that geopolitical tensions are likely to exert upward pressure on the euro, as articulated by Olli Rehn, Governor of the Bank of Finland, who highlighted the eurozone's resilience amid external shocks. Per the full note [source], Rehn emphasized that the eurozone's economic fundamentals remain robust, suggesting that the euro could strengthen against the dollar as investors seek safe-haven assets. Current positioning reflects a market that is cautiously optimistic, with a consensus target for EUR/USD at 1.075, indicating a potential for appreciation in the near term.