The euro fell to a fresh 12-year low early Thursday.
It’s rebounded after slumping below $US1.05 to the dollar, but has been under pressure all week.
The European Central Bank launched its quantitative easing program on Monday. Yields fell to record lows across the region. Meanwhile, the Federal Reserve is expected to raise interest rates sooner than later — that’s increasing demand for the dollar.
The Wall Street Journal’s Chiara Albanese tweeted this chart showing Wall Street’s forecasts for the currency pair over the next few years. Deutsche Bank is the most bearish — as we reported on Tuesday, the bank forecasts that the euro could reach parity with the dollar, or $US1, by the end of this year.
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