According to a report cited by Jin10 and carried by ChainCatcher, ING analyst Francesco Pesole said the resumption of military strikes in the Middle East is a reminder for investors to stay cautious on the euro-dollar exchange rate. In his view, the euro would need several conditions to be met in order to secure a sustained move above $1.15. Those include data or Federal Reserve communication that reduces expectations for U.S. rate hikes, along with a stabilization in broader risk sentiment. Pesole also said that if the market’s broadly optimistic view that the conflict will ease proves correct, EUR/USD has likely already found a bottom. The comments focused on how geopolitical developments and shifting expectations around U.S. monetary policy may shape the near-term path of the currency pair.
ChainCatcher, citing Jin10, reported that ING analyst Francesco Pesole said in a note that the resumption of military strikes in the Middle East is a reminder for investors to remain cautious on EUR/USD.
Pesole said the euro would need more support to secure a sustained move above $1.15. That would require markets to lower expectations for U.S. rate hikes through incoming data or Federal Reserve communication, while risk sentiment would also need to stabilize.
He added that if the market’s broadly optimistic expectation that the conflict will ease is correct, EUR/USD has likely already bottomed.
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