EUR/USD seen at 1.1900 in a year as USD expected to fall – Reuters poll
According to a Reuters poll of strategists, the US dollar is expected to drop across its main competitors over the coming year, in the wake of a slowing US economy, a widening fiscal deficit and a dovish Federal Reserve.
Key Findings:
“The currency is forecast to give back some gains over the coming year.
The dollar is expected to weaken, with the euro forecast at $1.19 in a year, over a 5 percent rise from $1.13 on Wednesday, according to the poll of over 70 currency strategists taken Feb 28-March 6.
But that outlook for 12 months ahead was a downgrade for the single currency against the dollar compared with last month.
On US-China trade deal:
Any resolution to an ongoing trade dispute between the United States and China is also unlikely to change the fortunes of the dollar.
If the two countries do achieve a trade deal within the next month or so, the dollar is expected to make no significant move, while in a no-deal scenario, the greenback was forecast to rise by 1 percent.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
