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EUR/USD holds steady at around 1.0700. Economists at ING expect the pair to continue trading well within the confines of a 1.0650-1.0750 range today.
“It looks like EUR/USD is settling into a broad 1.05-1.10 trading range this quarter – leaving us comfortable with the EUR/USD profile we outlined that profile saw the pair ending the first quarter near 1.08 before pushing decisively above 1.10 in the second as the US disinflation story accelerated at a time when China was reopening.”
“EUR/USD is bouncing off the recent 1.0650/0660 lows helped by a slightly positive risk environment coming out of Asia. We would expect it to continue trading well within the confines of a 1.0650-1.0750 range today.”
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