An alternative viewpoint is for euro to fall.
- in the near term, euro area activity remains very weak
- inflation low
- ECB may prepare another round of easing, probably at the 12 September, including more QE
More QE means, says Citi:
- a negative net supply dynamic in the EA bond market
- we lower our EUR/USD forecast 0-3m target from 1.12 to 1.08 level