EUR/USD: A Lower USD On Powell Nomination To Push EUR/USD Into 1.17 - ING

ING FX Strategy Research discusses EUR/USD outlook ahead of the likely nomination today of Jerome Powell to become the next Fed Chair.

...As he (Powell) is widely perceived to represent the continuity of the current Fed’s stance (cautious gradualism in policy tightening) this should lead to a modestly soft USD and lower UST yields as the Taylor premium is priced out.
EUR/USD will be primarily driven by the announcement of the next Fed Chair nominee. As per above, the likely nomination of Powell suggests a lower USD and an upside to EUR/USD, with the cross likely moving above the 1.1700 level," ING argues.