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.
