ING Sees EUR/USD Summer Floor at 1.14-1.15 After Fed
ING FX strategist Chris Turner says EUR/USD's test of 1.1500 after the hawkish FOMC is unlikely to extend much lower, with 1.14-1.15 acting as the summer range floor based on the view that the Fed won't tighten further.
ING FX strategist Chris Turner argues that EUR/USD's recent test of the 1.1500 level following the hawkish FOMC meeting is unlikely to break much lower. He identifies the 1.14-1.15 zone as the summer range floor.
The view is based on ING's expectation that the Federal Reserve will not pursue additional tightening beyond what is already priced. This caps the dollar's upside and supports the euro within that range.
Turner's assessment suggests a neutral near-term outlook for the pair, with the floor holding unless the Fed's stance shifts unexpectedly.
Source: FXStreet Forex News