Analysts at Bank of America Global Research (BofA) believe that EUR / USD likely to dip to 1.1500 amid likely US dollar rally, while they revise their price forecasts downwards from 1.2500 for 2021.
Key Comments:
The key catalysts for dollar strength American include:
- Monetary policy divergence of the Fed and the ECB.
- The potential of a substantial fiscal stimulus in the United States.
- Analysts expect a US recovery twice as fast as that of the eurozone.
- A still short market position in USD, particularly against the EUR.
- A challenging outlook for risk assets given the stretched valuations and substantial uncertainty.
EUR / USD is forecast lower by 1.1800 in June versus the previous forecast of 1.2200.
The pair could fall to 1.1600 in September versus the previous forecast of 1.2400.
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