FXStreet – The FX strategists of the Japanese Nomura Bank are long in the EUR/USD. You can expect a Breakout from a tight sideways range, which has been going on for some years.
Against the Background of positive macro-picture, and a recovery in Inflation, is likely to start, the ECB’s normalization of monetary policy in the coming year. A Tapering of the APP should be announced in September, while interest rate increases seem to take place in 2018. We see this as a positive turning point for the Euro. We also believe that we are in the early stages of a multi-year downtrend in the dollar. The influence of the monetary policy tightening by the Federal Reserve is likely to gradually subside. We continue to assume that the EUR/USD will test the end of the year to 1.15.
** FXStreet News Editorial, FXStreet**