EUR/USD to tumble towards 0.97 by year-end – Nordea

EUR/USD has fallen to trade more convincingly below parity. Economists at Nordea expect the pair to sink towards 0.97 by end-2022.

A recession in the euro area increasingly likely over the winter

“We see more downside ahead and continue to target 0.97 by the end of the year.”

“A recession in the euro area and especially the German economy looks increasingly likely over the winter.”