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Forex

Euro Surges Past 1.15 Amid Stronger Eurozone Growth and Weaker US Inflation

Guavy AI Editorial Team
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EUR USD
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The Euro to Dollar exchange rate (EUR/USD) has continued its upward trend, reaching around 1.1527 on Thursday evening after a 0.5% gain.

This movement was triggered by weaker US growth and softer monthly inflation data, leading to renewed Dollar selling. The Euro's domestic backdrop also improved due to stronger Eurozone growth and higher German inflation.

Citi believes the Federal Reserve's latest guidance has reduced the risk of further near-term US rate increases. Despite this, Bank of America remains cautious on the Euro's prospects, forecasting EUR/USD at 1.12 by the end of the third quarter.

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