EUR/USD has drifted lower to test support at 1.1300 today, ING's FX analyst Chris Turner notes.
A move under 1.1250/1260 today can do some damage
"Recently, we have been saying that the dollar bounce has been lacklustre, but positioning probably means that a move under 1.1250/1260 today could do some damage. Let's see what the US-UK trade deal has to offer."
"We've called the report 'Unipolar disorder' to reflect the potentially disorderly transition away from a dollar-centric financial system. The report also includes a longer-term look at EUR/USD and serves as a reminder that the euro requires some major reversal in terms of trade or some huge boost in eurozone productivity if much higher EUR/USD levels are to be achieved."
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