EUR in the spotlight: latest news

Recent forecasts for the Pound Sterling indicate an expected rise against the US Dollar, while its performance remains stable against the Euro, according to analysts.

Westpac forecasts that the Euro to Dollar (EUR/USD) exchange rate will reach 1.20 by the end of 2026. Despite a strong rally following the unexpected August US jobs report, the exchange rate has struggled to surpass the 45-month highs.

Market analysts anticipate that the dollar's trajectory will be influenced by Federal Reserve Chair Jerome Powell's upcoming remarks at Jackson Hole. Following his speech, the dollar is expected to move consistently in that direction until additional U.S. economic data is released next week.

EUR/USD has risen to 1.1718 following a dovish speech by Powell, which weakened the dollar. The key support level is at 1.1690, while resistance is noted at 1.1750 and 1.1829, which will determine the next movement.

Analysts predict a mixed outlook for the Pound Sterling. They anticipate a strengthening of the Pound against the Dollar, while the forecast against the Euro remains less favorable.

The weekly forecast for EUR/USD has become optimistic following dovish comments from the Federal Reserve Chair regarding potential rate cuts.

The US Dollar Index (DXY) has declined as Federal Reserve Chair Jerome Powell indicated that interest rate cuts may be on the horizon. Following his dovish speech at the Jackson Hole economic symposium, traders are now anticipating a 91% likelihood of easing measures in September due to concerns regarding labor market risks.