According to a report by Chris Turner of ING, the euro remains fragile as ongoing Middle East tensions continue to drive up energy prices. "Equity markets are set for another weak session, with European stocks underperforming their U.S. counterparts, which could push the euro back toward the $1.1530–$1.1550 range," he stated. Turner noted that the only potential support for the euro might come from later-released Challenger, Gray & Christmas data showing higher-than-expected U.S. job cuts, coupled with a weaker U.S. dollar. He emphasized that against the backdrop of a deteriorating growth outlook in the eurozone, the euro is likely to remain under pressure until the energy crisis is resolved. Data from London Stock Exchange Group showed the euro down 0.1% at $1.1626, after hitting a three-month low of $1.1528 on Tuesday.