BoA see downside risk for the euro over the rest of 2020

Forex

I posted earlier on GS who see the USD downtrend remaining:

BoA are on the other side.

  • “Following the strong EURUSD rally during the summer, which was mostly a USD sell-off, we see downside EURUSD risks for the remaining of the year, mostly driven by a USD correction higher”

Citing:

  • weakening global risk sentiment to be a constraint on the EUR, but a positive for the USD
  • says the consensus is too optimistic on the global economy
  • and also too optimistic on coronavirus vaccine prospects
  • too pessimistic on the COVID-19 situation in the US compared with that in Europe

BoA end of year forecasts for EUR/USD is 1.14 (previously were at 1.08)

I posted earlier on GS who see the USD downtrend remaining:

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