ING's Chris Turner said EUR/USD may extend recent weakness in coming weeks before rebounding later this year. He said falling energy prices are supportive for the euro, but market pricing of US rate hikes will be the dominant theme this summer; if markets price a 50bp US hike for this year, the euro could attempt to break below 1.1300. Turner added that ING currently judges the Fed will not raise rates and expects EUR/USD to return to 1.16–1.18 in November–December.