EUR/USD: To 1.25, USD/JPY: to 100 in the next year - SocGen

Author: Adam Button | Category: News

New forecasts from Societe General

New forecasts from Societe General
Societe Generale Research updated its FX forecasts and now targets EUR/USD and USD/JPY at 1.18 and 105 respectively by end-2020 and at 1.25 and 100 by end-2021. "Our updated forecasts reflect our concern that EUR/USD in particular, has gone too far too fast, but it seems clear to us that we are at the start of a multi-year period of dollar decline, from very elevated levels," SocGen notes. 

"The yen still can't fall far and is doing its job: ready to rally if global equities correct, doing little while they go up...A sterling short squeeze has dragged EUR/GBP below 0.90 but we doubt it can hold here for long, even if the outlook is still for the real trade-weighted index to bump along the bottom," SocGen adds.

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