Hawkish ECB May Not Halt EUR/USD Downside – ING
ING’s Chris Turner notes that EUR/USD was hit hard by a surging dollar, and a hawkish ECB delivering a 25bp hike may not stop the downside pressure.
EURUSD
According to ING’s Chris Turner, EUR/USD faced significant selling pressure as the US Dollar strengthened. The European Central Bank may feel compelled to sound hawkish while implementing a 25 basis point rate hike, but this is unlikely to reverse the euro's decline against the greenback.
The analyst highlights that the current dollar rally overshadows ECB efforts, leaving the single currency vulnerable despite potential hawkish rhetoric.
Source: FXStreet Forex News