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- EUR/USD to decline towards the 1.15 level by year-end – MUFG
EUR/USD to decline towards the 1.15 level by year-end – MUFG
FXStreet reports that economists at MUFG Bank have made some notable alterations for the forecast profile for EUR/USD.
“We now expect EUR/USD to continue grinding lower towards the 1.1500-level by the end of this year.”
“The US dollar is expected to continue to benefit from the Fed’s hawkish policy shift. The Fed is now planning a faster pace of policy normalization than we had previously expected.”
“The Fed has sent a clear signal that it will announce QE tapering plans “soon” which most likely means at their next meeting on 3rd November. The main risks to that timeline are posed by a more disorderly outcome from the US debt ceiling stand off and/or evidence of a sharper slowdown for the US economy.”
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