The Euro rose above $1.13 on Thursday, the highest since March 12th after the European Central Bank left interest rates unchanged as expected and increased its pandemic emergency purchase programme (PEPP) by €600 billion to a total of €1,350 billion, more than market expectations of a €500 billion expansion and extended it until at least June 2021. Still, the ECB President Christine Lagarde said that policymakers did not discuss buying junk debt and warned that the speed and pace of the Eurozone recovery remain uncertain. Also, the Merkel administration agreed on fresh stimulus measures worth €130 billion for the years 2020/2021 to speed up Germany's recovery from the coronavirus, following a €750 billion rescue package agreed in March.
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 Exchange Rate - EUR/USD - Austria - data, forecasts, historical chart - was last updated on June of 2020.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.12 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.11 in 12 months time.