Bank Of America: Eurodollar May Reach This Level By The End Of The Year!
Bank of America predicts the Eurodollar (EUR/USD) could reach $1.12 by the end of this year.
Once it reaches $1.12, there may be limited further upward movement.
The Eurodollar could drop from this target but may rise again in 2025.
Bank of America expects the Eurodollar to reach $1.15 by the second quarter of next year (2025).
Both the US Federal Reserve and the European Central Bank are expected to cut interest rates in 2024, and this is already factored into the market.
The easing of monetary policy in the US may weaken the dollar, causing it to fall from its currently high level.
