EUR/USD: Merrill Lynch expects pair to drop to 1.15 by end of June

During an interview on Bloomberg TV, Kamal Sharma, forex strategist for Bank of America Merrill Lynch, gave bearish forecasts for the EUR/USD pair.

According to him, the bank posts a bullish opinion on the dollar as well as on US rates. Sharma also believes that Trump's decision on Tuesday night to leave the Iran deal is positive for the dollar.

Regarding the euro, the bank notes that the ECB has for the moment been cautious about the end of the QE, which will not help the single currency to recover.

In the end, Merrill Lynch anticipates a decline of the EUR/USD to 1.15 by the end of the second quarter of 2018.