FXStreet (Delhi) – Richard Franulovich, Research Analyst at Westpac, suggests that they are neutral EUR right here though would not be surprised to see a low volume rally into 1.11/1.12 if the FOMC statement next week elevates concerns about global and market developments. Key Quotes “Would not get too carried away though - the plunge in energy prices and the higher EUR TWI will punch a hole in the ECB’s infl ation forecasts and could trigger fresh easing in March when the staff ’s forecasts are updated. GBP probably needs to consolidate its sharp fall for a while. However a toxic brew of Brexit risk and near zero prospects of a BoE hike this year and possibly until well into 2017 should continue to weigh. CHF’s inability to benefit from recent market turmoil is a potentially telling insight into the poor underlying fundamentals on the currency, notably extreme overvaluation and negative cash rates.” For more information, read our latest forex news.