EUR/USD to be around the 1.15 level by the end of next year – BofA

Economists at the Bank of America expect the EUR/USD pair to hover around 1.15 by the end of 2024.

US Dollar to exhibit moderate softness through to the end of next year

We expect the US Dollar to experience moderate softness through the end of next year.

Despite some expectations that technological advancements might contribute to productivity growth, we do not expect strong productivity growth in its USD outlook. The US is likely to remain in a softer growth mode for the medium term.

We expect the EUR/USD pair to be around the 1.15 level by the end of next year. Beyond that, we predict that EUR/USD will move towards its fair value in the 1.20s.