Bank with a year end EUR/USD forecast of 1.12 says that might have to change

The euro recovery has prompted renewed interest in the biggest FX pair. This from the past few hours:

• EUR/USD forecast to 1.20
• While the downside risk for EUR has eased there is a big test for it ahead

In brief remarks via Scotia, who have an end 2020 projection for the pair at 1.12

• Clearly at this point, European Union countries have made more progress than ... the US
• (US) economic trends are lagging noticeably
• forecast for the euro may change to the upside due to "improving Eurozone economic signals and the mishandling of the U.S.' virus response"