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Aug 03 - 02:55 PM

EUR/USD: Any Fresh Hawkishness From The Fed Could Easily EURUSD Back To Parity - ING

By eFXdata  —  Aug 03 - 01:30 PM

ING Research discusses EUR/USD outlook and maintains a bearish bias over the coming weeks.

"Looking at EUR/USD it is worth remembering that the recent bounce from 0.9950 to near 1.0300 has been exclusively a dollar correction - not driven by any re-rating of the euro after, say, the ECB's announcement of its new Transmission Protection Instrument," ING notes. 

"We say this because the ECB's trade-weighted measure of the euro is sitting at its lows for the year - understandably so, given the challenges that high gas prices pose for Europe's industry and consumers for the remainder of this year. Any fresh hawkishness from the Fed then could easily push EUR/USD back to parity," ING adds. 

Source:
ING Research/Market Commentary

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