#EURUSD @ 1.05518 could trade down to 1.0460 – ING

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EUR/USD lost more than 100 pips last week. Dollar strength is set to keep the pair heavy, economists at ING report.

“Investors fully subscribe to the ECB’s message of a 50 bps hike on 16 March and then price a further 80 bps of tightening into year-end. This should be the key difference between the Fed and the ECB cycles. We think the Fed could be in a position to cut by year-end, while the ECB looks likely to keep rates at their peak throughout the majority of 2024.”

“For EUR/USD, we think the strong Dollar view will dominate. Expect 1.0500 to be tested, with a chance that it briefly trades down to the 1.0460.”

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