#EURUSD @ 0.96532 : Intraday rallies to stall in the 0.9700 area – ING
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EUR/USD touched a new low for the year near 0.9550. Economists at ING expect the 0.97 level to cap any rally.
“Events in Ukraine have only managed to cement the Fed’s inflationary concern while hitting Europe’s growth prospects. In short, do not expect a turn in EUR/USD until the Fed’s work is done – and that doesn’t look like it’s happening until 1Q23 at the earliest.”
“Expect intraday EUR/USD rallies to stall in the 0.9700 region again and we doubt much hawkish ECB speak makes much difference here.”
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