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Oct 28 - 10:55 AM

EUR/USD, USD/JPY: Supply Shocks Pushing The Macro Outlook; Where To Target? - BofA

By eFXdata  —  Oct 28 - 09:39 AM

Bank of America Global Research discusses its latest outlook for EUR/USD and USD/JPY.

"As we near the end of the second year of the pandemic, concerns around supply shocks from shipping to chips to labor markets occupy markets and policymakers. We continue to look for modest near-term strength for the Dollar, and our general forecasts for the USD remain broadly the same, especially against G4, where we hold our end-4Q forecasts of 1.15 for EUR-USD, as well as 116 for USD-JPY," BofA notes. 

"However, we also note that we do not look for particularly stronger USD upside, and while 1.15 is our broad EURUSD forecast for 2022, we do look for some similarly modest downside going towards end-2022 and into 2023," BofA adds. 

Source:
BofA Global Research

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