EUR/USD forecast to rise to 1.15

Bank of America are projecting a rise for EUR/USD to 1.15 by the end of 2024.

Analysts at the bank are tipping both the Federal Reserve and European Central Bank to begin their rate-cut cycle in June.

However, they say, Fed rate cuts are expected to have more impact than ECB rate cuts.

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I dunno about this. The EUR economy is weaker, which is likely to see quicker and deeper cuts from the ECB. I’d suggest the USD is likely to outperform the euro on this basis.

Overriding all of this though is my hope the 2024 range is better than the 2023 one!

This article was written by Eamonn Sheridan at www.forexlive.com.