"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 an interest 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 said, 'If this week's (Eurozone) inflation data does not surprise, the dovish divergence between the European Central Bank and the Federal Reserve should prevent the euro/dollar from breaking above the 1.09 level.' The euro/dollar has risen slightly today, now at 1.0849."