EUR/USD may extend its rally to 1.0500/1.0550 in the near term – ING

EUR/USD has broken above 1.0400. The cuurency pair could extend its race higher to the 1.0500/50 area in the near term, in the opinion of analysts at ING.

Return towards parity likely in December

“EUR/USD may extend its rally to 1.0500/1.0550 in the near term, but we suspect the bullish trend may start to run out of steam as we approach year-end.”

“A return towards parity remains our base case for December.”

See: EUR/USD to see small fluctuations around the 1.03 level – Commerzbank