“This is a major break, as previously any moves to the 1.14 region have been quickly thwarted.” - Lloyds Bank.
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The euro to dollar exchange rate is forecast to retain current levels as the US Federal Reserve fails to pull the trigger to a US dollar recovery.
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When looking at the euro / dollar exchange rate at current levels we sense a lack of conviction on the pair’s prospects of advancing much higher.
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The euro to dollar exchange rate is forecast to recover over the course of coming days as it is too soon to call the start of the dollar rally argues a leading foreign exchange analyst we follow.
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This April has seen the euro trade towards the upper end of its 14-month range against the dollar following an impressive 4% rally through March.
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In what scenario posed by the ECB is the EURUSD likely to drift higher towards 1.1433? Here is your ECB ‘cheat-sheet.’
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The EUR has recently depreciated versus the USD and with the European Central Bank meeting due this week that trend lower could be questioned.
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