Euro Expected to Resume Strength in Late 2026, ING Analyst Predicts Recovery to 1.16–1.18 Range

According to ING analyst Chris Turner on July 2, the euro is expected to extend its recent decline against the U.S. dollar over the coming weeks before recovering later this year. Turner cited anticipated U.S. rate hikes as the dominant theme for summer 2026, noting that if markets price in 50 basis points of U.S. increases, the euro could test below 1.1300.

However, based on current expectations that the Federal Reserve will not raise rates, Turner projected the euro will return to the 1.16–1.18 range against the dollar by November or December 2026.