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Jan 13 - 02:55 PM

EUR/USD: Another Leg Higher Is Not Our Base Case - ING

By eFXdata  —  Jan 13 - 12:00 PM

ING Research sees a limited scope for further EUR/USD gains in the near-term. 

"EUR/USD extended its run after breaking above the top of its December-January range, and is now eyeing 1.1500. Still, another leg higher in the pair is not our base case, as along with our view for the dollar to recover, the euro seems to be lacking a clear bullish driver at the moment," ING notes. 

"We still think the dollar counter trend does not have long legs, and we see scope for a USD recovery by the end of this week, as imminent Fed tightening and room to cement views around a fourth Fed hike in 2022 (the Fed’s Bullard sees this as the base case scenario) still offer the greenbacke which should now have a less skewed net-long positioning - some appeal on dips," ING adds. 

ING Research/Market Commentary


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