EUR/USD may struggle to hold gains over 1.02 – ING

EUR/USD failed to find any positives from last night's FOMC Minutes. Economists at ING expect the to move below the 1.02 mark.

Staying offered

“The unrelenting negatives emerging from the gas crisis no doubt continue to weigh on the euro and suggest EUR/USD may struggle to hold gains over 1.02 today.”

“Fund managers continue to believe the euro is undervalued - but they have been saying that since 2018. And we think the gas crisis and terms of trade shock have driven a lower fundamental value for EUR/USD.”