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Aug 19 - 12:55 AM

EUR/USD: Fund Manager See EUR Undervalued But They Have Been Saying That Since 2018 -ING

By eFXdata  —  Aug 18 - 04:30 PM

ING Research discusses the EUR outlook and maintains a bearish bias on the EUR in the near-term.

EUR/USD failed to find any positives from last night's FOMC even though US yields softened a little. The unrelenting negatives emerging from the gas crisis no doubt continue to weigh on the euro and suggest EUR/USD may struggle to hold gains over 1.02," ING notes.

"Fund managers continue to believe the euro is undervalued - but they have been saying that since 2018. And we think the gas crisis and terms of trade shock has driven a lower fundamental value for EUR/USD," ING adds. 

Source:
ING Research/Market Commentary

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