EUR/USD continues to trade near the middle of its 1.1550–1.1750 range from early August, with scope to trend higher toward 1.2000–1.2200 in the coming months as ECB policy remains steady while the Fed resumes easing. French long-term yields eased slightly, with recent bond auctions showing softer demand but resilient investor interest overall, BBH FX analysts report.

ECB pause vs. Fed easing supports Euro outlook

"EUR/USD is trading near the middle of its 1.1550-1.1750 range from early August. EUR/USD has scope to edge higher towards 1.2000-1.2200 in the next few months as the ECB is on hold while the Fed is about to resume easing."

"French long-term bond yields are modestly lower. Investors’ appetite for longer-term French bonds softened but underlying interest is still encouraging. The bid-to-cover ratio on: the 10-year bond auction slipped to 2.18 (lowest since January) vs. 2.93 previously, the 15-year bond auction slipped to 2.73 (lowest since December 2024) vs. 3.30 previously, the 30-year bond auction slipped to 2.66 (lowest since June vs. 2.93 previously) vs. 2.96 previously."