We think economic growth and interest rates will pick up in the US in the near future. Simultaneously, the eurozone economy is bound to cool, which will undoubtedly ratchet up the tensions within the Monetary Union. It increasingly remains to be seen if the Fed will be able to apply further quantitative easing whereas the ECB is under mounting pressure to ease its monetary policy additionally. EUR/USD could slide towards 1.15 over the coming months to quarters.
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