J.P. Morgan Chase raised its Euro forecast to $1.20 due to an increase in long positions.

JP Morgan has raised its forecast for the Euro against the US Dollar, expecting the Euro to rise to around 1.20 by the end of the year driven by increased long positions. Strategy analyst Meera Chandan wrote in a report published on April 25th, "We expect the Euro/US Dollar to approach 1.20 by the end of the year."