Analysts at Danske Bank continue to expect the pair to edge higher towards the 1.22 region within a year’s view.
“We look for EUR/USD to continue on an upward trend over the next year and have a target of 1.22 in 12M”.
“Gravity is pulling the USD lower still as it has been overvalued for some time on our MEVA models and current account flows work in favour of the euro area”.
“Stronger growth performance in the euro area is also supportive of the EUR”.
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