Economists at Wells Fargo still see potential for moderate gains in the Euro over the medium term.
We forecast a resumption of modest Eurozone economic growth over time, and a much slower pace of rate cuts from the European Central Bank, relative to the Fed in 2024.
Against this backdrop, we forecast the Euro to strengthen to 1.15 by late 2024.
See: EUR/USD to finish the year around 1.13 – TDS