Barclays view on the euro is part of a wider view they hold for appreciation of the US dollar

The bank has raised its forecasts for the USD pretty much across the board

Citing:

  • Disappointing growth in the rest of the world as the U.S. continues to power ahead
  • "Economic convergence into outright divergence"

This "likely will support longer and greater USD strength than we had anticipated"

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Strategists at the bank are forecasting EUR/USD to trade at 1.12 by end ofQ4 this year