EUR/USD: 1.10 can be reached quite soon, although bumps along the way are highly likely.

EUR/USD trades above the 1.08 mark. Economists at ING expect the pair to edge higher toward the 1.10 level.

Schnabel keeps hawkish tone going

“Isabel Schnabel reinforced her profile as one of the most hawkish members of the ECB governing council yesterday, as she said she wanted the ECB March statement to include a reference that more hiking was possible. Her comments likely helped push market rate expectations in the eurozone a little further.”

“We think EUR/USD can retain some bullish momentum on the back of the ECB’s hawkish narrative and calmer investor nerves on the European banking situation.”“Our view remains that 1.10 can be reached quite soon, although bumps along the way are highly likely.”

EUR/USD clings to gains above 1.0800 amid weaker US Dollar

EUR/USD is trading sideways above 1.0800, consolidating gains in early Europe. The pair is struggling, despite a better risk tone and a broadly weaker US Dollar. Growing recession fears are capping the upside in the pair. ECB-speak awaited.

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GBP/USD climbs above 1.2300 ahead of Bailey

GBP/USD has scaled above the critical resistance of 1.2300 amid a cheerful market mood on Tuesday. The US Dollar drops alongside the US Treasury bond yields amid receding global banking fears and a dovish Fed policy outlook. All eyes on Bailey’s testimony.

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Gold bears prod $1,960 support as bank fears ease

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