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.
Eurodollar parity, forecasts can’t keep up >>> http://t.co/gDNVcKIWTi via @WSJMoneyBeat [chart by @pat_minczeski] pic.twitter.com/5IZtxfGNjh
— Chiara Albanese (@chiaraalbanese) March 12, 2015
NOW WATCH: Nationwide’s Super Bowl commercial about dead children is about corporate profits … in a way that we can all appreciate
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.
Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.