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Chief Analyst at Danske Bank Arne Rasmussen sees the pair navigating the lower end of the 1.21-1.15 range in the next weeks.

Key Quotes

“In FX markets, EUR/USD has erased some of its ECB losses, as US data on Friday failed to live up to market expectations”.

“Going forward, we expect the cross to remain a range play but emphasise that technicals and a firm Fed on Wednesday are likely to keep the cross in the low end of the 1.15-1.21 range near term”.