The Euro to US Dollar exchange rate currently stands at 1.12376. While it is reasonable for the exchange rate to increase, there will be limitations on how much it can further rise, according to MUFG.

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EURUSD Chart by TradingView

Economists at MUFG Bank suspect EUR/USD may be returning to the range of 1.1000-1.1500.

See: EUR/USD appears a bit overstretched in the short term and could face a correction this week – ING

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