EUR/USD may well trade in a tight 1.0880-1.0950 range today – ING

EUR/USD remains just below 1.0900. Economists at ING analyze the pair’s outlook.

December ECB minutes the highlight today

For today, the highlight will be the release of the European Central Bank minutes and President Christine Lagarde speaking on a panel. Her message on Wednesday was a little mixed. Like other ECB members, she presented a view that aggressive market pricing of the ECB easing cycle was self-defeating. But then she said the ECB would cut rates in the summer. We doubt the ECB minutes will shed too much light on this dilemma.

EUR/USD may well trade in a tight 1.0880-1.0950 range today, but we see no reason to change our current forecast of 1.0800 for the end of 1Q.