EUR/USD: the euro could slightly benefit from the ECB meeting (Danske Bank)

The following are Danske Bank's expectations ahead of the ECB meeting:

"The central bank governors will have to discuss how to adjust monetary policy communication without causing market turmoil. We expect the doves (led by Draghi and Praët) to agree with the hawks (Weidmann and Coeuré) regarding the removal of the bias in favour of QE.

We expect the ECB to alter its forward guidance wanting QE to be flexible. The reaction of the euro will probably be a rise, but a dovish tone at the press conference should dampen the rise.

We expect a range between 1.21 and 1.26 for the EUR/USD in the short term," says Danske Bank.