eFXdata reports that ANZ Research discusses EUR/USD outlook.

"We revised up our EUR/USD forecasts. COVID-19 vaccines will support a quicker return to pre-crisis GDP levels, despite the downside risks to growth over the winter. Our base-case expectation is that positive cyclicality from Q2 will favour the euro. Global GDP growth and trade volumes are recovering; and fiscal and monetary stimulus, supported improving health expectations, could drive above-trend growth into 2022,"ANZ notes. 

"A Biden presidency is expected to embrace a multilateral approach to trade, favouring dialogue over tariffs. The likelihood of a protracted USEU trade dispute has fallen. We now expect EUR/USD to rise towards 1.28 by end 2021," ANZ adds.