EUR/USD: The pieces of the investment puzzle have yet to fall into place for a rally – ING

Economists at ING analyze EUR/USD outlook.

EUR/USD risks another drop to the 1.0850 area

With the USD/CNY pair staying bid and Eurozone data soft we would say EUR/USD risks another drop to the 1.0850 area. 

Valuation metrics suggest the EUR/USD pair does not have to sell off too far – but the pieces of the investment puzzle have yet to fall into place for a EUR/USD rally.

See: EUR/USD to move lower toward H2 on weaker global growth, relative US economy outperformance – Danske Bank