EUR/USD has broken above 1.0400. The cuurency pair could extend its race higher to the 1.0500/50 area in the near term, in the opinion of analysts at ING.Return towards parity likely in December
“EUR/USD may extend its rally to 1.0500/1.0550 in the near term, but we suspect the bullish trend may start to run out of steam as we approach year-end.”
“A return towards parity remains our base case for December.”
EUR/USD holds above 1.0400 after German IFO data
EUR/USD retreated modestly from the nine-day high it touched near 1.0450 but managed to stay in positive territory above 1.0400. The data from Germany showed that IFO Business Climate Index improved to 86.3 in November from 84.5 in October, helping the Euro hold its ground. US stock and bond markets will be closed due to the Thanksgiving Day holiday.
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