Euro: Range-Bound vs Dollar Ahead of FOMC – ING

Chris Turner at ING notes that EUR/USD's rebound has stalled slightly above 1.16, maintaining a range-bound pattern. Investors remain cautious due to high natural gas prices and the upcoming release of the Federal Reserve's meeting minutes. He expects the pair to fluctuate within a 1.1520–1.1580 range in the near term, while higher energy prices support expectations of European Central Bank rate hikes.