The Euro to Dollar exchange rate (EUR/USD) has only fleetingly traded above 1.10 this year while there has been support just below 1.07. Nordea expects that EUR/USD will be trapped in a 1.05-1.10 range over the next year. Central bank policy actions will inevitably be key elements for currencies. As far as the US is concerned, it notes that recent data has been disappointing and expects that it will take some months before the Fed is comfortable in cutting rates. In this context, it expects that the first rate cut will not be delivered until September. Nordea, along with the market, is confident that the ECB will cut ... (full story)