The euro rose by the most in almost seven months to above $1.10 for the first time in three weeks late February, as investors dump dollars amid increasing expectations the Fed will cut rates to offset the impact of the coronavirus outbreak. Meanwhile, hopes for fiscal stimulus measures from Berlin to boost the slowing economy also supported. Earlier in the month, the euro dropped to as low as $1.08, the lowest since April 2017, as concerns about the Euro Area economic outlook and political uncertainty in Germany weighed.
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.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.09 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.08 in 12 months time.