ING with the remarks on the euro.
This snippet is via eFX.
- 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