ING analyst Francesco Pesole said the resumption of military strikes in the Middle East is a reminder to be cautious on EUR/USD. He said EUR/USD needs markets to pare Fed rate‑hike expectations—via economic data or Fed communication—and for risk sent

2026-07-29

ING analyst Francesco Pesole said the resumption of military strikes in the Middle East is a reminder to be cautious on EUR/USD. He said EUR/USD needs markets to pare Fed rate‑hike expectations—via economic data or Fed communication—and for risk sentiment to stabilize to sustain a move above 1.15. He added that if widespread market optimism that the conflict will ease proves correct, EUR/USD has likely already bottomed.