EUR/USD: 1.0800 looks to be the near-term bias – ING

In a busy week for European Central Bank speakers, today sees ECB President Christine Lagarde speak twice. Economists at ING analyze EUR/USD outlook ahead of the speeches.

Let's see what Lagarde has to say

A whole host of ECB speakers have pushed back against the market's pricing of 15 0bps of rate cuts this year – but market pricing has proved quite stubborn. Let's see whether President Lagarde can move the needle when she speaks today.

EUR/USD is working its way lower on the higher US rate/softer risk environment. 

1.0800 looks to be the near-term bias for EUR/USD and we are pleased that, despite the geopolitical environment, EUR/CHF is moving higher in line with a thesis of higher Euro rates being the dominant factor here.