ING analyst Chris Turner says expectations that the ECB may raise rates again in September are supporting the euro. He notes renewed US‑Iran tensions drove oil sharply higher on Wednesday but the euro showed resilience as euro swap rates rose more th

2026-07-09

ING analyst Chris Turner says expectations that the ECB may raise rates again in September are supporting the euro. He notes renewed US‑Iran tensions drove oil sharply higher on Wednesday but the euro showed resilience as euro swap rates rose more than US short‑end rates, narrowing yield differentials in the euro's favor. Turner added that the prospect of further Fed tightening remains the dominant theme and could push EUR/USD below 1.14.

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