EUR/USD Expected to Stay in a Tight Range for Now Before Falling to 1.08 -- Market Talk

Dow Jones01-18

0849 GMT - EUR/USD is expected to trade in a tight 1.0880-1.0950 range on Thursday, although ING still expects it to fall to 1.08 by the end of the first quarter, says Chris Turner, global head of markets at ING Research, in a note. "Today sees slightly more settled market conditions, and on the U.S. calendar are housing starts and initial claims - probably not market movers." EUR/USD fell to a five-week low of 1.0845 on Wednesday as data and central bank comments caused investors to scale back expectations for interest-rate cuts, though Turner says these developments suggested EUR/USD "should be trading closer to 1.08 than 1.09." EUR/USD trades steady at 1.0881. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

January 18, 2024 03:49 ET (08:49 GMT)

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