It is now clear that the bar for a material FX reaction due to geopolitics is high, and the short-term fate of EUR/USD is predominantly an extension of US macro, ING's FX analyst Francesco Pesole notes.
Lots of central banks speakers today
"The looming US government shutdown is raising some upside risks for EUR/USD, which may test 1.180 in the next couple of days. That said, we still think JPY remains a more attractive way to play the shutdown."
"Also worth monitoring today is a central bank event in Helsinki, featuring speeches from several ECB members – including President Lagarde – alongside Riksbank Governor Thedéen and select Bank of England policymakers."
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