The Euro traded higher at a 2-month high of $1.111 on Friday and is set to post the second week of gains, propelled by optimism about the Euro Zone economy after the European Commission proposed a bigger-than-expected €750 billion Recovery Fund Plan to support countries and sectors hit hardest by the pandemic. Of the total amount, €500 billion will be financed in the form of grants and €250 billion in loans.
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 Dollar Exchange Rate - EUR/USD - data, forecasts, historical chart - was last updated on May of 2020.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.10 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.09 in 12 months time.