EUR/USD is trading above 1.10 in a calm environment. The economists of ENG discuss the prospects of the pair.
Don’t get too excited about a possible range breakout
The default opinion will be that it is EUR/USD unlikely to break above 1.1100 as Fed remains very hawkish and risky assets have yet to adjust to much tighter monetary policy settings around the world. It is probably dangerous to wait for a break out of the range, but if it were to come this week, the US CPI data for June on Wednesday would likely be the catalyst.
We’ve been here before and We shouldn’t get too excited about a potential range breakout, but we could see EUR/USD approach year-round highs near 1.1100.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
