Swissquote senior analyst Ipek Ozkardeskaya said in a report that the euro against the US dollar, EUR/USD, should remain below 1.09 as there is a high possibility of a rate cut by the European Central Bank next week, while the prospect of a rate cut by the Federal Reserve in September is starting to fade. She stated, "If this week's (Eurozone) inflation data is not unexpected, the dovish divergence between the European Central Bank and the Federal Reserve should prevent the euro/dollar from breaking above the 1.09 level." Euro/dollar is slightly higher today, at 1.0849.