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Feb 25 - 12:55 PM

EUR: A lower Range For EUR/USD; Where To Target? - BofA

By eFXdata  —  Feb 25 - 10:45 AM

Bank of America Global Research sees EUR/USD at a 1.15-1.20 range for the rest of the year, ending the year at 1.15.

"To a large extent, this is a USD call, but fiscal and monetary policies in the EZ, as well as the slow vaccination could also weigh on the EUR. For next year, we are keeping our forecast at 1.15 for now, but the outlook remains highly uncertain," BofA notes. 

"Our EURUSD equilibrium range is 1.20-1.25, but our analysis suggests the EUR should be below its long-term average for as long as the EZ output gap is large," BofA adds. 

Source:
BofA Global Research

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