EUR/USD: BNP believes that pair's rise should continue up to 1.14 in the short term

In a note published this morning, BNP Paribas says that the rise of the euro is not over:

"If risk appetite continues to gain ground, with just a limited increase in US rates, the dollar should continue to lose ground against emerging currencies and the G10 currencies.

If US rates begin to rise again, it is not certain that the dollar can benefit from it as growth expectations are not robust enough to tolerate a further increase in the Fed rate.

We therefore continue to believe that the increase of the EUR/USD should continue up to 1.14."