The euro climbed 0.7% towards $1.09 on Tuesday, snapping a six-day run of falls, as investors welcomed signs the rate of new infections across Europe is peaking, prompting several European governments to start looking ahead to easing lockdowns. Meanwhile, Eurozone finance ministers are likely to deliver proposals for a coordinated action against Covid-19 later in the day, after EU leaders failed on March 26th to agree on a response to support the economy. The three ideas that are likely to get the most support are probably the use of the ESM bailout fund, the European Investment Bank and the Commission's short-time work scheme to prevent lay-offs.
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 - Luxembourg - data, forecasts, historical chart - was last updated on April of 2020.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.08 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.07 in 12 months time.