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- EUR/USD can reach the 1.23 level before end-2021 – ING
EUR/USD can reach the 1.23 level before end-2021 – ING
FXStreet reports that ING economists discuss EUR/USD prospects.
“This month we are revising our EUR/USD profile to adjust for a Fed seemingly ready to hike rates in late 2022. That is much earlier than the 2024 initially envisaged under its new inflation targeting framework. That window for our forecast EUR/USD move as high as 1.28 looks to be closed on a more hawkish Fed. Yet the big, broad turn higher in the dollar should really start in 2Q22 – six months before the Fed starts tightening. Before then, EUR/USD should be able to trace out a 1.17-1.23 range. We still think 1.23 is possible because of strong growth momentum into 2H21 and an ECB that may too have to reconsider its ultra-dovish settings when it meets in September.”
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