JPMorgan Chase & Co analysts are the latest to give up their call for the shared currency to linger below dollar parity. Morgan Stanley strategists upped their year-end projection to $1.15 after their earlier $1.08 call was hit last week. An ING Groep NV team gave their forecast “a factory reset”.
“To quote a former UK prime minister when asked about the most significant challenges faced by his administration, the answer came: ‘Events, dear boy, events,’” wrote the ING team led by Chris Turner, which now sees the euro hitting $1.15 next quarter, versus an earlier forecast of parity. “The same can be said for foreign exchange strategists making FX forecasts.”
On Tuesday, European Central Bank Governing Council member Mario Centeno said the euro-area economy isbetter than many anticipated in the face of record inflation and the energy crisis that erupted after Russia attacked Ukraine.
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