EUR/USD might see a mini-rally to the 1.0520-1.0550 mark – ING EURUSD ECB Banks
stage a mini-rally to the 1.0520/50 area if the ECB steps with some reassurance for Italian bonds, economists at ING report.“The move to call an ad-hoc meeting appears to be in contrast with what we heard from Isabel Schnabel yesterday, who appeared to see no urgency to pre-announce any measure to reduce bond-market fragmentation.”
“There are some risks of a small correction in the dollar today, and if this combines ECB steps with some reassurance for Italian bonds, we might see a mini-rally in EUR/USD today to the 1.0520-1.0550 mark. However, as we see any dollar correction as short-lived, our base case remains a return to sub-1.05 levels in the coming days.”Information on these pages contains forward-looking statements that involve risks and uncertainties.