The Euro weakened against the USD on Tuesday, after the ZEW economic sentiment survey in Germany showed investor’s morale deteriorated more than expected to its lowest since October last year. The currency fell as much as 0.3% to 1.122 around 08:30 am New York time. Historically, the Euro Dollar Exchange Rate - EUR/USD reached an all time high of 1.87 in July of 1973 and a record low of 0.70 in February of 1985. The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.13 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.12 in 12 months time.