EUR/USD: BNP Paribas downgrades its forecast for the pair

BNP Paribas is downgrading its EUR/USD forecast to 1.24 by the end of 2018 from 1.28 previously.

As for the GBP/USD, it is now expected to hit 1.41 vs. 1.45 previously.

BNP Paribas (and banks in general) remain bullish on the EUR/USD in the medium/long term, but many have revised their expectations to the downside since the June ECB meeting.