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EUR/USD potential decline to 1.20 in 6m view – Danske Bank

FXStreet (Edinburgh) - Thomas Harr, Head of FX and Commodities Strategy at Danske Bank, believes the pair could slip to the 1.20 area in a 6-month view.

Key Quotes

EUR/USD may bounce around the ECB meeting but this should prove short-lived ahead of a likely strong September non-farm payroll report”.

“Growth and monetary divergence will drive EUR/USD lower near term as the USD’s role as an asset currency increases and the EUR is the funding currency of choice”.

“We lower our EUR/USD forecasts to 1.25 on 1M, 1.22 on 3M, 1.20 on 6M and 1.23 on 12M. EUR weakness, monetary easing and US expansion will support the eurozone in 3-6 months time, marking the bottom in EUR/USD”.

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