EUR/USD is already touching the 1.1150 level as it finally breaks free and talk about an impeachment is rife. Is there more room to run? The team at ING thinks so and marks the next levels.
ING FX Strategy Research expects the EUR to remain supported in the near-term as investors:
“a) re-assess whether it needs to stay so under-valued, b) prepare for a change in ECB rhetoric at the June 8th meeting, and c) use it as a safe haven to hedge Trump political risk,” ING argues.
Technically, ING notes that EUR/USD looks set for a run on to 1.1200 and potentially 1.1300 near term.
EUR/USD is trading circa 1.1112 as of writing.
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