ANZ's near term forecasts for EURUSD....>

EURO-DOLLAR: ANZ's near term forecasts for EURUSD "anticipate consolidation in a

1.14-1.20 range. A decisive break below the 1.1350 area is needed to open up EUR

downside and a retest of 1.05. Political and trade uncertainty would have to

deteriorate significantly."

- ANZ believe that "it is premature to declare that euro area uncertainties are

over. Questions remain around how the new Italian government will agree to

prioritise its spending objectives, how Rome will interact with Europe and how

the US-EU trade dispute will evolve. The ECB is closely monitoring developments.

We expect it will taper quantitative easing (QE) later this year. The risk is

that extended uncertainty could undermine confidence in the inflation outlook,

implying interest rates will remain at current levels for longer."