Bank of America Projects EUR/USD to Reach 1.15 by 2024
Thursday, 28 March 2024, 17:33
Key Points:
- Bullish on EUR/USD: Bank of America maintains its forecast for EUR/USD at 1.15 by the end of 2024, projecting significant appreciation in the latter half of the year.
- Consensus Comparison: Market anticipates EUR/USD at 1.10 for 2024 and 1.14 by 2025, while BofA predicts 1.15 by 2024 and 1.20 by 2025.
- Core USD Forecasts: BofA expects USD depreciation in 2024, driven by lower inflation and potential Fed easing.
- EUR-CHF Adjustment: Recent uplift in EUR-CHF forecast after Swiss National Bank's rate decision.
Conclusion: Bank of America's optimistic EUR/USD projection reflects confidence in a weaker USD due to inflation and rate factors, defying market consensus and paving the way for a balanced valuation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.