ING with the remarks on the euro.

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  • ING maintains a bearish bias on the EUR in the near-term.
    EUR/USD failed to find any positives from (the FOMC minutes) ... The unrelenting negatives emerging from the gas crisis no doubt continue to weigh on the euro and suggest EUR/USD may struggle to hold gains
  • Fund managers continue to believe the euro is undervalued - but they have been saying that since 2018. And we think the gas crisis and terms of trade shock has driven a lower fundamental value for EUR/USD
Italy euro is likely to hike it budget deficit target again