EUR/USD: Forecast for the end of 2023 lowered to 1.10 from 1.12 – ABN Amro

Economists at ABN Amro have adjusted their forecasts in EUR/USD following changes in the Fed view and ECB view.

Year-end 2024 forecast kept at at 1.16

“As we pushed out most of the Fed rate cuts to 2024, we think there is less upside in EUR/USD in the near-term. Therefore, we lower our EUR/USD forecast for the end of 2023 to 1.10 from 1.12.”

“We keep year-end 2024 forecast of EUR/USD at 1.16 though, because of the larger amount of rate cuts we expect for the Fed compared to the ECB in 2024.”