EUR/USD to press the recent 1.08 low over coming sessions – ING

EUR/USD has dipped sub 1.10 on the US rates move and could fall further. Economists at ING see the pair tackling the recent 1.08 low in the next few days.

ECB speakers today

“Amongst the ECB speakers today, we have President Christine Lagarde and Chief Economist Philip Lane. Let's see if arch-dove Lane has anything to say about the current levels of EUR/USD. In reality, tighter monetary policy (not FX intervention) is the only credible tool available to the ECB to fight euro weakness. Let's see if they are prepared to use it.”

“Given the momentum behind the move in US interest rates, we could easily see EUR/USD pressing the recent 1.08 low over coming sessions.”