EUR/USD Pair Expected to Rise Towards 1.10, Says ING Economists

According to the latest updates, the Euro (EUR) has traded above the 1.08 mark against the US Dollar (USD). ING, a prominent economic institution, predicts that the EUR/USD pair will steadily rise and reach the 1.10 level.

Isabel Schnabel, a member of the European Central Bank (ECB) governing council, reinforced her hawkish stance during a recent statement. Schnabel emphasized the inclusion of a reference in the March ECB statement, highlighting the possibility of hiking. This assertion likely contributed to a further increase in the market rate expectations in the eurozone.

The positive outlook for the EUR/USD pair is expected to continue due to the ECB's hawkish narrative and a stable European banking situation. ING predicts that this bullish momentum will likely help the pair to reach the 1.10 mark in the near future, although some bumps along the way are highly probable.

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