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EUR/USD to rise toward 1.20 in 12 months – Danske Bank

FXStreet (Córdoba) - Senior Analyst at Danske Bank Christin Tuxen, notes that they see EUR/USD trading around 1.10 and 1.16 in the coming months and at 1.20 in 12 months.

Key Quotes:

“We see EUR/USD range-bound between 1.10 and 1.16 in the coming months with a move lower as markets buy into a first Fed hike in early 2016. Notably, our not-so-aggressive call on ECB easing (a mere extension of QE) limits the EUR downside from euro-area monetary policy.”

We think the low in EUR/USD will arrive in 3-6M and now see the cross at 1.12 in 3-6M (1.10 previously) with the possibility of dipping temporarily towards 1.10.”

“Given that we see no sustained trend in relative monetary policy in H2 16, we expect to eventually see a gradual move higher in the cross towards the levels warranted by medium- to long-term fundamentals. Notably, we now see the pair at 1.20 in 12M (1.15).”

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