UBS says EUR/USD heading as high as 1.11 after short term political headwinds dissipate

Via a UBS Global Wealth Management note, forecasting EUR/USD to 1.09 by the end of this year and 1.11 by March 2025.

Citing

• political uncertainty could prove a near-term headwind for the euro

But following this:

• an improving growth outlook should help later this year

The political uncertainty UBS is referring to is the snap election called for France on Sunday:

• ForexLive Asia-Pacific FX news wrap: EUR lower on EU politics

Its been on the slide ever since early Monday … actually since Friday’s NFP:

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