Euro Unlikely to Recover Until Later This Year

Dow Jones07-02 16:22

0822 GMT - The euro could extend its recent losses against the dollar in coming weeks before recovering later in the year, ING's Chris Turner says in a note. While lower energy prices are a welcome development for the euro, expected U.S. interest-rate rises will be the dominant theme this summer, he says. The euro could attempt to break below $1.1300 in the near term if the market shifts towards pricing 50 basis points of U.S. rate rises this year. "But based on a house view that the Federal Reserve does not hike, we are looking for the euro to trade back into the $1.16-$1.18 range into November/December," Turner says. The euro last trades up 0.35% at $1.1415. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

July 02, 2026 04:22 ET (08:22 GMT)

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The euro could attempt to break below $1.1300 in the near term if the market shifts towards pricing 50 basis points of U.S. rate rises this year. \"But based on a house view that the Federal Reserve does not hike, we are looking for the euro to trade back into the $1.16-$1.18 range into November/December,\" Turner says. The euro last trades up 0.35% at $1.1415. 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