The European Central Bank's forum on central banking in Sintra, Portugal, is unlikely to materially impact the euro, ING's Francesco Pesole says in a note. ECB President Christine Lagarde's opening remarks Monday were quite measured, he says. There was little to prompt markets to revise expectations for another interest-rate rise this year and other ECB speakers this week should broadly validate that pricing, he says. "We acknowledge downside risks for euro versus the dollar ahead of U.S. data and [Federal Reserve Chair Kevin] Warsh's speech in Sintra, but remain more in favor of stabilization around or just above $1.140 rather than a retesting of last week's lows in the coming days." The euro falls 0.3% to $1.1389. (renae.dyer@wsj.com)
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ECB's Sintra Forum Unlikely to Have Major Impact on Euro — Market Talk
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The European Central Bank's forum on central banking in Sintra, Portugal, is unlikely to materially impact the euro, ING's Francesco Pesole says in a note. ECB President Christine Lagarde's opening remarks Monday were quite measured, he says. There was little to prompt markets to revise expectation…