Fed Policy Meeting May Have Greater Impact on EUR/USD Than ECB Decision, Says ING Analyst

EURUSD0.28%
According to Jin10 on June 12, ING analyst Chris Turner stated that the Federal Reserve's upcoming policy meeting on Wednesday may be more important for EUR/USD movements than the European Central Bank's interest rate decision on Thursday. The analyst noted that EUR/USD remains below 1.16, as markets have already priced in the ECB's aggressive tightening cycle and are reluctant to push expectations further. Meanwhile, markets expect the Fed may raise rates later this year; unless the Fed dismisses this expectation at Wednesday's meeting, the U.S. dollar should remain strong.
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