JP Morgan raised its euro forecast to $1.20 as long positions increased.

J.P. 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 an increase in long positions. In a report published on April 25th by strategist Meera Chandan, it was stated: "We expect the euro/dollar to approach 1.20 within the year". The target range for the euro against the dollar by the end of the year has been revised upwards from 1.14-1.16 to 1.20-1.22. It is believed that the slowing growth of the US economy, funds moving out of US stocks, and supportive European fiscal policies will strengthen the euro in the medium term.