Quotes from Rabobank:
-Going forward we anticipate that the USD will continue to outpace the EUR. That said, our forecast that EUR/USD will stand close to the 1.20 area on a 12 mth view is once again not an aggressive call and stands north of the current market consensus of a move to EUR/USD 1.18 on a 12mth view.
-In part our EUR/USD forecast reflects our view that the Fed will not hike interest rates until the end of2015, later than the market consensus. It also reflects our view that the EUR may not fall aggressively if the ECB announces full blown QE as we expect in Q1.
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