EUR/USD rose to a two-week high just below 1.0840. Economists at ING analyze the pair’s outlook.
Wage growth is not falling as quickly as inflation
Today sees Eurozone consumer confidence for February. A mild improvement is seen here. And if there is a ray of light for the Eurozone economy it may be that wage growth is not falling as quickly as inflation and that there may be a boost from rising real incomes after all.
On the day, perhaps we should not get too excited by a little Euro strength and perhaps the default view should be that EUR/USD stays slightly bid in a 1.0780-1.0840 range.
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