10:06 - 19.08.2026

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August 19, Fineko/abc.az. Chris Turner, Global Head of Markets at Dutch ING Bank, stated that in the short term, the US dollar is being supported by two key drivers: high energy prices and rising 30-year US Treasury yields. If both trends persist, the possibility of the Federal Reserve raising interest rates in September could re-enter the spotlight.

Highlighting developments in the Middle East, Turner noted, "High energy prices are positive for the dollar both in terms of US energy independence and the Fed’s reaction to these events." He pointed out that investors are expected to be reluctant to push the euro/dollar exchange rate significantly higher ahead of the Fed minutes release.

According to Turner, despite recent positive economic surprises in the Eurozone, natural gas prices remaining near yearly highs call for caution. "We think EUR/USD could trade in the 1.1520–1.1580 range today," he said, recalling that based on expectations of the Fed not hiking rates, the forecast for the pair stands at 1.17 for late September and 1.18 by year-end.