Euro stays on the back foot to start the week. Economists at OCBC Bank think the EUR/USD pair is likely to break below the 1.1300 level.
Geopolitical tensions with Russia to have important implications for the euro
“At this juncture, risk-reward likely favours a downside breach of 1.1300, rather than moving higher towards 1.1500.”
“Outright conflict over Ukraine may be a strong directional impetus.”