Euro Could Fall Further on Prospect of ECB Pausing Rate Rises
Dow Jones
Sep 22
0944 GMT - The euro is at risk of falling further given the prospect of the European Central Bank keeping interest rates unchanged in October, ING's Francesco Pesole says in a note. ECB officials have so far kept an October rate hike firmly on the table. "Even so, investors appear increasingly willing to embrace the opposite narrative, pointing to further near-term downside pressure on euro-dollar," he says. Meanwhile, the euro's short-term fair value based on ING's 60-day model dropped below $1.15 for the first time since late July. ING sees the euro potentially falling below June lows of around $1.1320-$1.1330 in the near term. The euro falls 0.1% to $1.1456 after earlier reaching a seven-week low of $1.1433, according to LSEG.
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