Economists at Wells Fargo expect the euro to remain under downside pressure. Subsequently, the EUR/USD pair is expected to slide to 0.9600 or even lower.

Further downside in the euro

“We still expect further downside in the euro.”

“Given energy supply disruptions, earlier Eurozone recession and a relatively limited monetary tightening cycle from the European Central Bank (ECB), we expect the EUR/USD exchange rate to fall to 0.9600 or lower.”