[ING: Fed Rate Hike Speculation Offsets Oil Price Drop's Impact on Euro] Jin10 News, July 28 – ING analyst Chris Turner stated in a report that as the market prepares for a potential rate hike by the Federal Reserve on Wednesday, the euro has failed to gain much support from the decline in oil prices. He noted that the argument in favor of a rate hike suggests that taking action sooner would enhance the Fed's anti-inflation credibility and reduce the need for subsequent tightening. 'The Fed's lack of communication has undoubtedly provided fertile ground for such speculation.' According to data from the London Stock Exchange Group, the market reflects a 34% probability of a rate hike on Wednesday.