BoA say EUR/USD to turn back down, forecast to 1.02 in Q3
BoA looking for the USD to strengthen citing "economic and financial market shocks reverberate and USD demand persists"
- the note forecasts EUR/USD 1.02 in both Q2 and 3
- and end the year at 1.05
- global economy headed for recession
- contracting US economy, but it'll outperform many areas, especially Europe
- Europe is late to contain the virus
- Europe is challenged by fiscal policy coordination