A brief rally failed to propel EUR/USD back above 1.0800 yesterday. Economists at ING see the pair rangebound for now.

Ability of ECB speakers to lift the Euro appears diminished

“The pair may mostly trade in the 1.07-1.08 range until next week’s data offers clearer direction to the Dollar.”

“Despite an improved risk environment helping the pro-cyclical Euro, below-consensus inflation in Germany yesterday may have made investors more cautious about another EUR rally. In this sense, the ability of European Central Bank speakers to lift the Euro appears diminished.”