Lates News

Joyce Chang, head of global research at JPMorgan, said that the euro will continue to strengthen this year as a result of the boost from European stimulus plans. The Wall Street bank predicts that with European economic growth outpacing the U.S., the euro/dollar exchange rate will rise to 1.20 by December and reach 1.22 by June of next year. Chang added that a potential ceasefire in Ukraine could also support the euro. As part of the government's significant increase in military spending, Germany plans to increase core defense spending to 3.5% of GDP over the next five years. They have also launched a 500 billion euro ($584 billion) debt-financed infrastructure investment plan to stimulate the stagnant economy.