EURUSD set to test the August 10 high near 1.0370 – BBH

EURUSD accelerates the upside to the boundaries of 1.0300. Economists at BBH expect the pair to test the August 10 high near 1.0370.

European Union updated its macro forecasts

“EURUSD broke above its September 12 high near 1.02 and sets up a test of the August 10 high near 1.0370.”

“Eurozone growth is seen at 3.2% this year but slowing sharply to 0.3% next year vs. 1.4% previously. Growth is expected to recover to 1.5% in 2024. Inflation is seen at 8.5% this year, up nearly a percentage point from the previous forecast. Inflation is expected to slow to 6.1% next year vs. 4.0% previously, and then to 2.6% in 2024.”