ING analyst Francesco Pesole says EUR/USD appears undervalued and should appreciate modestly over the next few weeks. His model puts short-term fair value at 1.1600–1.1650, driven primarily by a narrowing 2yr swap spread. He cautions EUR/USD is unlikely to clear 1.16 in the next few days unless the Fed acts to suppress market rate‑hike bets.

2026-08-14

ING analyst Francesco Pesole says EUR/USD appears undervalued and should appreciate modestly over the next few weeks. His model puts short-term fair value at 1.1600–1.1650, driven primarily by a narrowing 2yr swap spread. He cautions EUR/USD is unlikely to clear 1.16 in the next few days unless the Fed acts to suppress market rate‑hike bets.