ING's Chris Turner: Limited Upside for EUR/USD Despite ECB Rate Hike Bets

Chris Turner from ING stated in a report that the appreciation of the euro against the U.S. dollar (EUR/USD) might remain limited, even as the market increasingly bets on a rate hike by the European Central Bank (ECB) next month. According to Jin10, Turner noted that ECB officials Lane and Schnabel failed to significantly boost the euro yesterday, despite reinforcing expectations for a 25 basis point rate hike on June 11. He added that expectations for the Federal Reserve to shift towards rate hikes might become a more dominant theme in the coming weeks.