US dollar to lose strength in Europe, while euro to strengthen

12:34 - 3.06.2020

June 3, Fineko/abc.az. Certain economic processes in Germany have further increased the demand for the euro.

ABC.AZ reports that the increase in demand for the euro comes at a time when the US dollar is likely to depreciate.

Thus, it is predicted that the unrest that has engulfed the U.S. will have a negative impact on the country's economy. This, of course, increased the demand for the euro in Europe and mainly in Germany and led to its strengthening.

Experts believe that if the EUR/USD exchange rate strengthens above $1.12, it may rise to $1.15.

And the GBP/USD rate is also likely to continue rising to $1.28 with a gap of $1.26.

 

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