Economists at Rabobank see scope for further USD gains vs. the EUR and note that the EUR/USD pair could slide below the 0.95 level.

Concerns over growth to underpin the greenback

“Since the USD is a safe haven, concerns that the US could tip into recession next year are set to be USD supportive.”

“The USD is set to remain firm until the Fed are content that US inflation is falling and that inflation expectations are well anchored. That is likely to be some months away.”

“We remain USD bulls. We are targeting EUR/USD 0.9500 but see risk of break below this level.”