Euro Struggles as ECB Rate Hike Fully Priced – ING

ING’s FX team highlights that the Euro is struggling due to the market already fully pricing in an ECB rate hike. According to ING, this limits any potential upside for the Euro.

Even if the ECB delivers additional hawkish surprises, it may not translate into gains for EUR/USD, as the hawkish expectations are already discounted in current pricing.