EUR/USD MAY STRUGGLE TO EXTEND GAINS ABOVE 1.1000 – SCOTIABANK

EUR/USD’s gains have slowed after peaking near 1.0980 last week. Economists at Scotiabank analyze the pair’s outlook.

Net losses today could tilt risks towards a little more weakness in the near term

With both the Fed and ECB appearing to be headed for a June ease, EUR gains may struggle to extend through to 1.1000 for now.

There is nothing obviously bearish about price action on the short-term chart but net losses today for the EUR could tilt risks towards a little more weakness in the near term