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Oct 22 - 12:55 PM

EUR/USD: Likely Peaked At 1.1660 And Heading Below 1.1600 Into FOMC November Meeting - ING

By eFXdata  —  Oct 22 - 10:45 AM

ING Research is tactically bearish on EUR/USD into next month FOMC policy meeting.

"It seems, however, that markets are determined to stick to their current pricing of 10bp of ECB tightening within the next year, regardless of multiple signals from President Lagarde and other members who have clearly pushed back against this prospect. Crucially, it does not appear that the EUR is drawing meaningful benefits from tightening expectations," ING notes.

"We think we saw the short-term peak around 1.1660 in EUR/USD this week, and we are expecting the pair to move back below 1.1600 into the FOMC November meeting," ING adds. 

ING Research/Market Commentary


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