The euro could fall through 1.10 if markets unwind the ECB rate increases they currently price.
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The euro could recover against the pound and dollar if markets scale back the Fed increases they price.
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The euro could fall to $1.10 if French bond stress intensifies and ECB rate expectations keep unwinding.
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The euro could fall further as markets price the chance the ECB is forced into supporting French debt.
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French debt concerns are brewing, and we think this is one to watch when considering the euro-to-dollar rate's outlook.
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Lagarde's dovish tilt exposes the euro to its June low, though softer US data could trigger a rebound.
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The euro looks set to steady against the dollar in the days ahead, and firm eurozone inflation figures at the end of the week could turn that into a modest rebound.
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