EUR/USD has broken back below 0.9800. Economists at ING expect the world’s most popular currency pair to extend its decline towards the 0.95-0.96 area in the short-term.

Downtrend has further to go

“Today, as we see upside risks for the dollar after the payrolls release, another leg lower in EUR/USD is our base case.”

“We currently expect the downtrend in the pair will extend to the 0.95-0.96 area in the very near-term, and to the 0.90-0.94 area by year-end.”

See – NFP Preview: Forecasts from nine major banks, employment trend slows down