DZ Bank Research Cuts EUR/USD Forecasts -- Market Talk

Dow Jones02-15

1454 GMT - DZ Bank Research lowers its EUR/USD forecasts to 1.08 for three-, six- and 12-month horizons from the previous 1.10, 1.12 and 1.12, respectively, but it expects a wide trading range, analyst Sonja Marten says in a note. As the eurozone economy is set to improve in the second quarter, the currency pair could in the meantime rise above 1.10, "however, the momentum is unlikely to last," she says. The U.S. economy remains robust and moves toward a "soft landing," which argues against a weaker dollar, while the eurozone will also recover. However, this will fail to provide enough support for the euro to settle sustainably above 1.10 against the dollar, she says. EUR/USD rises 0.5% to 1.0780. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

February 15, 2024 09:54 ET (14:54 GMT)

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The U.S. economy remains robust and moves toward a \"soft landing,\" which argues against a weaker dollar, while the eurozone will also recover. However, this will fail to provide enough support for the euro to settle sustainably above 1.10 against the dollar, she says. EUR/USD rises 0.5% to 1.0780. 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As the eurozone economy is set to improve in the second quarter, the currency pair could in the meantime rise above 1.10, \"however, the momentum is unlikely to last,\" she says. The U.S. economy remains robust and moves toward a \"soft landing,\" which argues against a weaker dollar, while the eurozone will also recover. However, this will fail to provide enough support for the euro to settle sustainably above 1.10 against the dollar, she says. EUR/USD rises 0.5% to 1.0780. 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