EUR/USD to stay largely rangebound as ECB is in no hurry to cut interest rates – UBS

Economists at UBS expect the Euro (EUR) to remain stable as the Europen Central Bank (ECB) will prefer not to rush policy easing

ECB remains reluctant to declare victory in the fight against inflation

Persistent price pressures in services and another round of a wage-price spiral remain concerning for several members of the ECB directorate, so we think the central bank is in no hurry to cut interest rates at this point. 

This should ensure the Euro stays largely rangebound even amid subdued economic sentiment, limiting the potential for gains in the US Dollar Index (DXY).