EUR/USD Forecasts Slashed as Dollar Resilience Continues

Forecasts for the EUR/USD currency pair have been repeatedly revised downward as the Dollar shows resilience, according to Societe Generale. Kit Juckes at Societe Generale notes that predictions have moved from a high of 1.20 to 1.16, while his own forecast stands at 1.15.

Client discussions suggest markets are even more dollar-bullish than the revised forecasts indicate. Strong US economic data and inflation could push EUR/USD toward new lows in the near term, potentially reaching a new low of only 0.5% away from current levels or pushing the Dollar Index to a near-2026 high.