France's BNP Paribas Sees Euro Peaking

Forex News
French lender BNP Paribas projected that the single currency would increase over 4% to 1.23 dollars within the next 3 months on ECB’s QE exit at the end this year and on potential 20 bps rate hikes in June and December of the next year. The lender stated: "We argue that, in light of extended EURUSD short positioning and subdued ECB tightening expectations, the eventual rebound in EURUSD will prove substantial (hence an aggressive 1.23 target over three months)".