The euro is set to end its longest run of monthly gains versus the dollar since January 2013 on expectations of higher U.S. interest rates and rising European political risk. Market pricing for a Federal Reserve hike is rising,
Even so, “fundamental center of gravity remains higher” for the pair with the European Central Bank potentially announcing a tapering of stimulus, according to Ned Rumpeltin at Toronto Dominion Bank, which expects the euro to finish the year at $1.26, compared with $1.1810 on Friday.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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