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EUR/USD to hit 1.20? – Danske

FXStreet (Barcelona) - Kasper Kierkegaard, Chief Analyst at Danske Bank forecasts EUR/USD to hit 1.20 in six months with the risk of the target getting achieved sooner than anticipated.

Key Quotes

“The US dollar declined against all G10 currencies on Friday following the weaker-than-expected non-farm payroll figures. We expect any sell-off in the USD to be modest as the market will use any modest sell-off in the USD to buy into it. In particular, the USD should rally over the coming weeks against easing central banks currencies such as the EUR and JPY.”

“We target 1.20 in EUR/USD and 118 in USD/JPY in six and 12 months and the risks are clearly that these targets are reached much faster than we project.”

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