EUR/USD, USD/JPY: BNP bank targeting 1.01 and 130 respectively in 2016

Based on fundamentals, BNP bank thinks that the EUR/USD will decline towards parity while the USD/JPY will rise towards 130.

The economic forecasts given by the BNP for the end of 2016 indicate that the EUR/USD should be near 1.01 and a movement in this direction could be achieved earlier than expected. As for 2017, BNP estimates that the EUR/USD should stabilise as the ECB ends its QE efforts and European loan rates start rising again. The projection for the end of 2017 is 1.02.