EUR/USD to target 0.95 by year-end, GBP/USD to move towards parity – BofA

Economists at Bank of America Global Research make a round of G10 FX revisions into Q4. The EUR/USD and GBP/USD are now forecast at 0.95 and 1.00 by year-end, respectively.

USD to stay at multi-decade highs for the near and medium-term

“We adjust our G10 FX forecasts, led by shifting lower our EUR/USD profile with a 0.95 target for the end of the year.”

“We now look for GBP/USD to move towards parity at the end of the year.” 

“Even though we do not look for a new multi-year secular trend to the upside, the dollar is likely to stay at multi-decade highs for the near and medium-term, as per our forecasts."