EUR/USD briefly traded down to 1.1200 before staging a rebound. As there is still much uncertainty surrounding the Russia-Ukraine conflict, the pair is at risk of falling to the 1.1120 lows, economists at ING report.

EUR/JPY to hold above 127.50

“EUR/USD has remained remarkably supported through the Russia-Ukraine crisis so far, but given the uncertainty, we would still say that risks are skewed to the 1.1200 area or even a retest of the 1.1120 lows.” 

"EUR/JPY has broken sharply lower – as equities take the strain – but unless we see another 10-15% equity correction, a break of good support at 127.50 is far from clear.”