Fed Uncertainty Caps Euro's Upside Against Dollar, ING Says
EUR/USD struggles to extend gains despite supportive Eurozone data and lower oil prices as Federal Reserve policy uncertainty weighs, according to ING analyst Chris Turner.
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Chris Turner at ING notes that the euro should be performing better against the dollar, supported by solid Eurozone economic figures, declining oil prices, and Japanese selling of the greenback. However, uncertainty over the Federal Reserve’s next moves is preventing EUR/USD from breaking higher.
Turner also flags potential short-term US activity in EUR/JPY as a factor to watch, suggesting cross-currents may keep the common currency range-bound for now.
Source: FXStreet Forex News