FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees spot in a consolidative pattern for the time being.
Key Quotes
“The EUR was partially lifted after the ECB’s Coeure was cited as saying that “the debate is still open” with respect to prospects for further QE at next month’s ECB Council meeting”.
“For today, look to Draghi’s testimony to the European Parliament for domestic cues with further (we think top heavy) consolidation expected around the 1.0700-1.0800 neighborhood with the policy divergence dynamic still in play”.
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