The euro held around $1.19 in August, having recovered from an over three-month low of $1.175 hit in July. Upbeat economic data showing the Eurozone economy grew more than expected during the second quarter helped to provide some support, while concerns over the spread of the Delta variant remained. Investors expect that the European Central Bank will remain dovish for some time, after policymakers pledged last month to keep interest rates at record-low levels for even longer in an effort to bring inflation back to its 2% target, while ECB President Christine Lagarde warned about a fresh wave of the coronavirus pandemic and its impact on the economic recovery. The updated guidance pushed expectations for an interest rate hike further into the future as the ECB sees inflation below 2% until at least 2023.
Historically, the Euro Dollar Exchange Rate - EUR/USD reached an all time high of 1.87 in July of 1973.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. Euro Dollar Exchange Rate - EUR/USD - data, forecasts, historical chart - was last updated on August of 2021.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.18 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.17 in 12 months time.