EUR/USD (current price: 1.0950)
The most traded pair rebounded above the crucial 1.10 level this morning, as global risk assets mostly ignored the rise of the Yen and got a bit higher in early trading. Investors are seemingly more cautious towards the Dollar following the strong rally in the currency last week, as some think that the Fed will remain dovish despite the relatively favorable U.S. economic data, because of the still present international worries regarding the Brexit and China.
Our assessment: EUR/USD still trades in a narrow range between 1.09 and 1.115 since the Brexit vote, but a surprise from the Fed might cause a meaningful move later on this week. EUR/USD in a neutral
