ING’s Francesco Pesole writes that EUR/USD broke above 1.150 as broad Dollar weakness persisted, even as the Euro underperformed some G10 peers despite stronger Eurozone data. With Eurozone CPI in focus and a September ECB hike largely priced, he sees near-term risks tilted to the upside for EUR/USD, though moves above 1.160 may prove unsustainable without further USD repricing.
Euro supported but gains seen as fragile
“EUR/USD broke through 1.150 with little resistance yesterday as the dollar came under broad-based pressure. While the euro initially outperformed most G10 peers after the Fed announcement, it lagged behind yesterday despite…
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