EUR/USD: Forecasts unchanged at 1.0700 on 6M and 1.0500 on 12M after Fed meeting – Danske Bank

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1 February 2024

EUR/USD: Forecasts unchanged at 1.0700 on 6M and 1.0500 on 12M after Fed meeting – Danske Bank

EUR/USD finished close to the 1.0800 level and about flat on the day after the FOMC decision. Economists at Danske Bank analyze the pair’s outlook.

The Fed remain undecided on the prospects of a cut in March

EUR/USD price action around the FOMC meeting should be viewed in light of the rally ahead of the meeting triggered by renewed concerns about the health of US regional banks. In the end, EUR/USD finished close to the 1.0800 level and about flat on the day as the market and the Fed remain undecided on the prospects of a cut in March.

We keep our forecasts for EUR/USD unchanged at 1.0700 on 6M and 1.0500 on 12M.

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