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Jun 27 - 06:55 PM

EUR/USD: May To Struggle To Hold Gains Over 1.0625/40; EUR/CHF: 1.00 Shouldn't Prove Much Of A Floor - ING

By eFXdata  —  Jun 27 - 03:00 PM

ING Research discusses EUR/USD and EUR/CHF tactical outlook in the near-term.

"For the time being, the Fed will continue to sound hawkish and EUR/USD may struggle to hold gains over the 1.0625/40 area this week," ING notes. 

"Elsewhere, the market will be looking out again at the weekly CHF sight deposit data to see if the Swiss National Bank has been selling FX reserves to engineer a stronger Swiss franc. EUR/CHF made it as low as 1.0050 on Friday and as we have been saying for the last couple of months, 1.00 should not prove much of a floor in EUR/CHF - now that the SNB wants to drive the nominal CHF stronger to fight inflation," ING adds. 

Source:
ING Research/Market Commentary

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