The pair moves will depend on market sentiment towards USD, and for now it gains popularity. North Korean woes have not come true, and Irma was downgraded to tropical storm leaving most populated areas intact.
It gave the market hope that damages would not be so devastating, leaving the chance to see the Fed rate hike before the year end. But it’s all only hope. This week we are going to see the reports on and retails sales, and the chances to get stronger than expected are not that high.
Under this scenario EURUSD looks very attractive for buys at current levels with potential to rise up to 1.2050 by the week end.