EUR/USD:1.05 will be the bottom of the first quarter range - ING

EUR/USD got a lift yesterday. Economists at ING believe that the 1.05 level will be the bottom of the first quarter range.

“The continued re-pricing of the ECB curve is providing EUR/USD with some support against higher US rates and suggesting 1.05 will be the bottom of the EUR/USD's first quarter range after all. Certainly, the disinflation story is taking a back seat this month.”

“Today, we have a few ECB speakers and we should expect a relatively quiet 1.0565-1.0645 range for EUR/USD.”

– ING