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- EUR/USD to reach 1.15 by year-end – Nordea
EUR/USD to reach 1.15 by year-end – Nordea
The US Dollar strengthened strongly against G10 currencies during 2022, before paring back some gains during the winter. Looking ahead, economists at Nordea see a weaker USD and forecast EUR/USD at 1.15 by the end of the year.
Weaker USD ahead
“We believe global factors are in favour of a weaker USD against the EUR and see EUR/USD at 1.15 by year-end of this year. However, the tensions in markets will likely continue.”
“An economic recession and stock market taking a leg lower (earnings recession) is a risk to our USD view, but we are in the cautiously optimistic camp. Moreover, it is quite difficult to pinpoint exactly if and when stock markets will fall.”
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