EUR/USD: 1.1500 Target Hit – Look For Overshoot say ING

The Euro has rallied notably higher against the US Dollar, reaching the 1.1550s in its latest up-move. It can deliver more gains says one analyst.

The world’s largest foreign exchange dealer, Citi, have dug into their data and found that the Euro’s strong run higher could be about to be tested.

Industrial Production data out of the eurozone at 10:00 B.S.T will be closely watched.

Foreign exchange analysts at global financial services provider NAB have announced an update to their forecasts for the Euro to Dollar exchange rate (EUR/USD).

The Dollar is likely to lose ground over the medium-term after the other main G10 central banks rotate their policy stance and became more hawkish, according to analysis by IB TD Securities. 

The Euro jumped higher against the Dollar and Pound Sterling following the release of the minutes of the European Central Bank's monthly policy meeting which suggest the taps on ease monetary policy are soon to be turned off.