ING FX Strategist Francesco Pesole argues EUR/USD should be trading above 1.140 based on their models, with recent Euro weakness seen as somewhat overdone. He notes that developments across bond markets, equities, and oil prices are discouraging an aggressive challenge to the ongoing dollar strength, but he sees scope for the currency pair to stabilize after its recent slide. “Our models still suggest EUR/USD should be trading above 1.140. Clearly, the latest moves in bond markets, equities and oil all suggest against aggressively bucking the dollar uptrend. But we feel this week could bring some stabilisation after a decline that looks a bit overdone.
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