EUR/USD Falls: ING Sees More Downside Despite ECB Rate-Hike Signal

According to Jin10, ING analyst Francesco Pesole said the European Central Bank may signal a possible September rate hike through media leaks after Thursday's meeting, but that is unlikely to stop the euro from falling in the next few days. Pesole added that ING's short-term bias on the euro remains tilted to the downside, as the foreign-exchange market appears to be "dangerously complacent" about escalating Middle East conflict. He said ING expects the euro to fall to around $1.1380 in the next few days unless more positive news emerges.