#EURUSD @ 1.05662 seen at 1.05 by mid-year, recovery to 1.10 expected by year-end – BofA
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Economists at Bank of America Global Research target EUR/USD at 1.05 by the first half of 2023 and 1.10 by year-end.
“Inflation is likely to imply near-term stability and upside for USD, given low unemployment and inertia for the core. Still, we look for that upside to be more limited, with our 1.05 focal point for the first half of this year for EUR/USD.”
“We hold our general FX views for G10, and see USD overvaluation as guiding our longer-term outlook, including our forecast of 1.10 for end-of-year EUR/USD.”
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