Analysts at CIBC, expect the EUR/USD pair to remain steady for now. The see the pair trading around 1.17 into year-end and also during the first quarter of next year and then rising to 1.20. Key Quotes: “The combination of an earlier re-opening and a less dovish central bank compared to the Fed, led to an aggressive expansion in EUR longs over the summer. Speculative positioning reached all-time extremes into the end of August, with the position extension coinciding with the change in Fed policy to average inflation targeting.” “An unwinding of such positions, triggered by global risk aversion that favours the greenback, alongside eurozone data that added up to an easing the eurozone surprise index, has put a temporary stall into the euro’s march stronger. We expect EURUSD to remain near 1.17 into year-end.” “Looking ahead into 2021, the arrival of vaccines, and the fading of the current second wave, should encourage renewed euro momentum. The ECB has noted that it’s attentive to the impact of FX gains on inflation and inflation expectations, but we don’t expect any serious push back in term of policy levers that would stand in the way of reach 1.20 on EURUSD next year as long as a recovery is underway.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/JPY Price Analysis: Recovery losses strength, consolidation above 136.00 is needed it to keep it going FX Street 2 years Analysts at CIBC, expect the EUR/USD pair to remain steady for now. The see the pair trading around 1.17 into year-end and also during the first quarter of next year and then rising to 1.20. Key Quotes: “The combination of an earlier re-opening and a less dovish central bank compared to the Fed, led to an aggressive expansion in EUR longs over the summer. Speculative positioning reached all-time extremes into the end of August, with the position extension coinciding with the change in Fed policy to average inflation targeting.” “An unwinding of such positions, triggered by global risk aversion that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.