The economists of commerzbank change their forecasts on the EUR/USD. They hope that the pair climb towards 1.14 until the end of the year.
EUR/USD will fall to 1.08 by the end of 2024
“For now, the EUR is likely to benefit from the ECB’s tightening approach, while the Fed is likely to start signaling rate cuts later in the year, which should put pressure on the USD.”
“We have adjusted our forecasts for EUR/USD and see room for a rally towards 1.14 through the end of the year.”
“However, we stand by our view that EUR/USD will weaken in the course of 2024, since once it becomes clear that inflation in the eurozone will not decline as quickly, the ECB’s monetary policy will no longer appear so restrictive. This is likely to put pressure on the Euro, so we expect EUR/USD to drop to 1.08 by the end of 2024.”
Source: Fx Street
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