Rabobank analysts believe that the Euro-Dollar pair will move lower in the coming months. Your six-month forecast for the EUR/USD is 1.06.
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“Despite its safe-haven characteristics, the USD failed to gain traction last month on US regional banking problems. This was because the market perceived this to be a US-specific event with little risk of contagion to Europe or elsewhere. That said, in light of strong inflationary pressures, we believe that Fed rates will remain higher than the market expects.”
“We also see risk of higher rates for longer from other G10 central banks. This may only serve to increase the risk of further financial crises in the coming months, which could trigger further demand for the safe-haven dollar. We maintain our 6-month forecast of 1.06″.
Source: Fx Street
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