Euro (EUR) strength has ended; for the time being, it is likely to trade in a range between 1.0845 and 1.0945, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann notes.

EUR/USD trades towards 1.0845

24-HOUR VIEW: “We indicated yesterday that ‘barring a break below 1.0875, EUR could edge higher.’ We added, ‘given the lackluster momentum, a sustained break above 1.0920 is unlikely.’ However, EUR did not edge higher, as it traded sideways between 1.0871 and 1.0902, closing at 1.0889 ( 0.11%). Further sideways trading seems likely today, probably in a range of 1.0875/1.0910.”