EUR: Liquid alternative to the USD – ING

FXStreetAug 4, 2025 9:26 AM

EUR/USD enjoyed a strong rally on Friday thanks to the view that the Fed can now cut rates after all, ING's FX analyst Chris Turner notes.

Markets expect buyers in the 1.1500/1520 area

"Two-year EUR/USD swap differentials moved to the narrowest levels of the year on the view that it is about to play catch-up with this year's European Central Bank easing. With an important low made near 1.1400, we suspect there will be plenty of buyers in the 1.1500/1520 area – should it make it that low. 1.1700 seems a reasonable target for the next couple of weeks."

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