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EU leaders are due to hold a video conference on April 23 to discuss a way forward. The outlook for EUR/USD is likely to be complicated by Eurozone specific factors, according to Rabobank

Key quotes

“While the USD can be expected to give up ground on risk-on days, overall we expect it could be some months before the safe-haven USD trends lower. For EUR/USD the outlook is complicated by the political risk that has started to simmer in the Eurozone.”

“Currently we are forecasting a dip to EUR/USD 1.05 on a 3 month view, but politics will remain key for the outlook for the EUR.”