The Euro to Dollar exchange rate remains vulnerable to further losses and looks set to take another step towards the 1.05 level over the coming days, although Eurozone inflation on Friday could offer some relief.
EURUSD hits 6-month low as Fed hints at one more hike, EUR to stay pressured through October says ING.
The dollar continued trading in a cautious manner, gaining some ground only against the yen and the franc, while losing the most versus the risk-linked aussie, kiwi, and loonie.
"Is our EUR/USD target of 1.05 too optimistic?" asks Meera Chandan, FX Strategist at JPMorgan in a recent currency market update.
The Euro looks set to remain under pressure against the Dollar over a multi-week basis now that it has broken below a key level on the charts, but in a week devoid of Eurozone data Wednesday's U.S. Federal Reserve decision could offer the single currency some relief.
Researchers at investment bank TD Securities have released a 'cheat sheet' that offers some insights into potential targets for the Euro-Dollar exchange rate (EURUSD) on the various outcomes likely to emerge from the European Central Bank's interest rate decision.
Any strength in the Euro to Dollar exchange rate following today's European Central Bank interest rate decision would likely be short-lived, according to research from Bank of America.
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