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Euro To US Dollar Year-Ahead Forecast: "Around 1.12" Say Berenberg
Foreign exchange analysts at Berenberg have updated their Euro to Dollar (EUR/USD) exchange rate outlook in the context of inflation trends and shifting expectations for monetary policy. The FX strategists expect the EUR/USD to edge slightly higher by the end of 2023, to trade at around 1.12. They forecast a strengthening to 1.18 by the end of 2024. A significant decline in U.S. inflation, which fell more than anticipated from 4.0% to 3.0%, has led to a revision of the Federal Reserve's projected interest rate hikes. The implication here, according to Deutsch, is that the Fed may have already executed its final rate ... (full story)