#EURUSD @ 1.10199 There is a risk that the hawkish ECB sends through 1.1100 – ING
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EUR/USD remains close to the highs of the year. Economists at ING analyze the pair’s outlook ahead of the European Central Bank (ECB) meeting.
“Today should see a 25 bps ECB hike and it is now probably stretched positioning which is the biggest headwind to further EUR/USD gains.”
“There is a risk that the hawkish ECB sends EUR/USD through 1.1100 today, but a) long positioning is quite stretched and b) a hawkish ECB is priced. This warns that EUR/USD could hang around this 1.10 area a little longer – particularly were the US equity sell-off to gain momentum.”
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