ING Forecasts EUR/USD Rebound to 1.16-1.18 Range by Year End

ING analyst Chris Turner projects a late-year euro recovery to 1.16-1.18 USD, noting short-term downside risks from potential US rate hikes despite falling energy prices.

Woofun AI notes that ING analyst Chris Turner anticipates the euro will recover to the 1.16-1.18 USD range by November or December. While recent downward trends may persist in the near term, Turner asserts that anticipated US interest rate hikes will outweigh positive effects from declining energy prices. He warns that if markets price in a 50 basis point hike, EUR/USD could dip below 1.13, though he currently expects the Federal Reserve to hold rates steady.