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- EUR/USD seen trading as low as 1.10 in 12 months – Danske Bank
EUR/USD seen trading as low as 1.10 in 12 months – Danske Bank
EUR/USD has reach new lows, falling below 1.15. Economists at Danske Bank continue to see a stronger dollar in the months to come and, therefore, expect the world’s most popular currency pair to dive to the 1.10 level over the next 12 months.
Broader market themes are increasingly turning pro-dollar
“Fed has begun discussions on the timing of rate hikes and tapering of asset purchases: Tapering is starting here in November. This will continue to shift the market’s attention towards USD on a theme of monetary divergence vis-à-vis EU. Such upside risk is amplified by the dollar rebounding from relatively weak levels.”
“As a reflection of broader market themes increasingly turning pro-dollar with global liquidity conditions tightening, PMIs moving lower and central banks facing rising inflation concerns we keep our profile for EUR/USD to 1.10 in 12 months in favour of USD strength.”
“The risks to see EUR/USD above 1.20 include global inflation pressures fading.”
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