Bank of America forecasts for EUR/USD:
- 1.12 at the end of 2024
- 1.17 at the end of 2025 (from previously projecting 1.20)
- 1.20 in 2026
BoA citing:
- Federal Reserve to cut, but more gradually than previously thought
- Say that with persistent inflation it'll be a shallow easing cycle
Despite the timing of its EUR/USD forecast B of A says its staying more bearish on the USD than the consensus is.
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On Thursday US time we got some signs of erosion for USD bullishness:
