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Euro: ECB tone watched on France – ING

Reported · Written up by our desk · Major Pairs

ING’s Francesco Pesole expects the European Central Bank to keep rates unchanged and does not see French bond market stress as sufficient to trigger a dovish pivot, given high Oil and gas prices. Markets price some chance of a December hike, but ING anticipates a cautious communication. The bank sees EUR/USD holding above 1.110, with US data potentially exerting modest downside pressure.

Latest closeEUR/USD 1.113 ▼0.4%

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