ING: The ECB's Sintra Forum is unlikely to have a significant impact on the euro

He said that European Central Bank President Christine Lagarde’s opening speech on Monday was quite restrained. He stated that there is hardly anything that could prompt the market to revise its expectations for another rate hike this year, and other European Central Bank speakers this week should largely confirm the pricing that reflects these expectations. “We acknowledge that there is downside risk to the euro against the US dollar ahead of US data releases and [Federal Reserve Chair Kevin] Walsh’s speech in Sintra, but we still lean towards the exchange rate stabilizing around $1.140 or slightly higher over the coming days, rather than retesting last week’s lows.” The euro fell 0.3% to $1.1389.