Bank of America have raised their end of year forecast for the euro against the US dollar.
- Now projecting 1.08 from the previous 1.05 for end December 2020
- Q3 forecast is 1.12 (from 1.08)
Citing:
- positive USD view based on a bearish outlook for the global economy
The current "key driver" of the weaker USD is buoyant risk appetite (specifically US equities) but the bank does not expect this to continue.
