Goldman Sachs discusses EUR/USD near-term outlook.

"The Euro has appreciated sharply versus CNY and the Asian complex over the past month, EUR/USD is trading close to our year-end forecast of 1.10 for the second time this year, and most remarkably the real trade-weighted Euro is not far off its strongest levels in a decade," GS notes. 

"The near-term news – both on activity and from central banks – is likely to continue to highlight this divergence, keeping UST-Bund spreads tight and supporting the Euro unless the Fed surprises hawkishly," GS adds.