EUR/USD to peak at 1.20 before descending to 1.15 toward the back-end of 2024 – ING EURUSD Fed ECB Eurozone Banks
to a 1.20 peak. However, some risks – including the US debt ceiling stalemate – can keep the Dollar afloat in the short term.“The widening of the US-eurozone and Fed-ECB divergence in the latter part of this year and the start of next year led us to revise our EUR/USD forecast higher: we now expect a peak at 1.20 in 4Q23/1Q23, before a descent to 1.15 toward the back-end of 2024 as the ECB starts easing.”is admittedly less of a clear-cut bearish story for the Dollar.
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