ING FX Strategy Research notes that EUR/USD is enjoying the soft dollar environment.
However, ING also notes that the pair is trading way above short term rate spreads – as the market anticipates ECB tapering.
“Draghi disappointing the markets on Thursday and EUR/USD crashing back to 1.10 is clearly a risk for Thursday, though we favour a buy on dips strategy under 1.12,” ING argues.
EUR/USD is trading 1.1230 as of writing.
Source: ING Global Markets Research
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