EUR Could Fall to 1.1570 if Long-Term Yields Rise Further, ING Says

According to Chris Turner, analyst at ING, the euro may face pressure if eurozone long-term government bond yields rise further on May 18. He cited elevated energy prices and rising long-term interest rates as headwinds to economic growth. Turner added that the European Central Bank risks damaging long-term bonds by dismissing temporary inflation spikes, and should continue signaling potential rate hikes. Any further sell-off in long-term bonds could push EUR/USD to 1.1570.