According to CoinMeta, an analyst from ING Group, Francesco Pesole, stated in a report that the euro against the US dollar currently seems to be undervalued and is expected to appreciate moderately in the coming weeks. He pointed out that models indicate that the fair value of the euro/dollar in the short term is in the range of 1.1600 to 1.1650 US dollars, mainly due to the narrowing of the two-year swap spread. However, unless the Federal Reserve intervenes to curb market bets on interest rate hikes, it is unlikely that the euro/dollar will break above 1.16 US dollars in the next few days.