EUR/USD is expected to move downward to 1.10 this year and start to recover towards 1.15 next year and finally reach the 1.20 level by 2024, economists at the Bank of America Merrill Lynch report.

Euro set to depreciate against the US dollar in 2022

“On balance, we still expect the risks to be to the downside for EUR/USD this year and to the upside next year.” 

“We have been forecasting EUR/USD at 1.10 this year, 1.15 next year and 1.20 (lower end of long-term equilibrium range) in 2024. Although getting the timing right of such a path will be difficult, we stick with it for now.”