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Oct 28 - 10:55 AM

EUR: Keeping EUR/USD Targets Unchanged Into Mid-Term; Raising USD/JPY Lowering EUR/GBP - BofA

By eFXdata  —  Oct 28 - 10:00 AM

Bank of America Global Research discusses its latest round of G10 forecasts revisions.

"Domestic political headlines have been driving much market sentiment, most notably in the UK. However, as US midterm elections approach, our G10 FX forecasts are unchanged, as the core macro themes about inflation, central banks, and near-term USD strength remain the same, leaving USD at historically strong levels. We continue to look for EUR-USD to end the year at 0.95, although eventually rising to 1.10 at end-2023. We also leave our Dollar Bloc and Scandies and Swiss forecasts the same," BofA notes. 

"We do lower our EUR-GBP forecast profile, and expect the cross to end this year at 0.88. Lowering EUR-GBP, of course, mechanically raises our cable forecasts as well. We also raise our very near-term end-2022 USD-JPY forecast to 155," BofA adds. 

Source:
BofA Global Research

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