EUR/USD: 1.0900 will hardly prove to be a sturdy support for much longer – ING

Economists at ING expect the EUR/USD pair to eventually break under the 1.09 level.

No domestic drivers
“EUR/USD continues to follow primarily USD dynamics, and a quiet calendar in the Eurozone means this should continue to be the case today.”

“For now, the USD appreciation was not enough to trigger a break below 1.0900 in the pair, but the lack of some encouraging news on the US debt ceiling story means –in our view – that 1.0900 will hardly prove to be a sturdy support for much longer.”

“ECB speakers have had a limited impact on the Euro after the latest ECB meeting and this should not change for now.”