EUR/USD bounces back from the low 1.0800s, prompting analysts at Scotiabank to evaluate the currency pair’s outlook.

The resurgence in the EUR may be attributed to resistance from certain European Central Bank (ECB) hawks against the notion of implementing early rate cuts. The EUR revisited the range observed in the past week, briefly dipping slightly below the 1.0820 base recorded earlier in the week. However, the positive market response since the drop to 1.0813 indicates that the sideways range trading pattern is still in place.