ING FX strategist Francesco Pesole said that although oil has eased after the US
and Iran paused attacks, the euro remains vulnerable and EUR above $1.14 is
"somewhat optimistic." He warned any new military strikes could quickly push
Brent back to $100/bbl and knock EURUSD below 1.1380. Potential dollar bids
ahead of the Fed decision on Wednesday and elevated gas prices, unless tensions
ease rapidly, are additional downside risks for the euro.