Commerzbank are looking for continued US dollar gains:

  • USD should profit from the expectations of Fed interest rate normalization
  • Current USD rates have not priced in the speed of rate hikes that we expect

On the EUR:

  • The euro is set to be under pressure as a result of the persistent low inflation in the euro zone and an ECB policy that could even expand government bond purchases

Their projections (end of quarter, the two closest I have boxed in red):

And, more:

  • CEE currencies - PLN and HUF are likely to remain volatile on worries about local politics
  • CNY - to remain on the weaker side, following decreasing Chinese growth rates, worries about the Chinese stock market and USD strength