EUR/USD reached its highest level in almost 8 months at 1.0777. ING economists expect the pair to continue rising towards 1.09.
1.0660/1.0700 may have downsides
“Eurozone equities outperform is still to be seen and this should provide good support for the euro.”
“Assuming no upward surprises in the CPI, the direction of EUR/USD movement would be towards the 1.09 area.”
“1.0660/1.0700 may contain today’s downside.”
See also – US CPI Preview: Forecasts from 10 Major Banks, Price Pressures Easing Further