(Fed hike odds updated)

• EUR/USD slipped back to retest 1.16 post-Warsh

• Inflation fight not over message lifted Fed hike bets

• Sept hike odds now around 56%, but outcome remains depend on data/oil dependent

• Spot back at pre-Treasury buyback level (1.1603), a break below leaves EUR vulnerable to deeper retracement

• Next downside objective would be last week's low at 1.1557 on a 1.1600 break
EURUSD hourly chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own) ((Email: ))