In the view of economists at Deutsche Bank, USD strength could start to peter out in the coming months. They forecast EUR/USD at 1.10 by end-June 2023.
Scope for eurozone policy tightening could eventually bolster EUR
“While the USD should remain in demand in the short-term, it could depreciate in the medium term given that the course of monetary policy in the US is already largely priced in.
“There is still potential for a more restrictive eurozone monetary policy stance than currently priced in, especially in 2023.”
“We forecast EUR/USD at 1.10 for the end of June 2023.”
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