The euro traded at $1.185 on Friday and was set for minimal gains for the second week in a row. The common currency was supported by broad dollar weakness after data released on Thursday showed that the number of unemployed people filing new benefit claims fell less than expected last week, while nearly 30 million people were on unemployment benefits at the end of August. On Thursday, the euro hit one-month low of $1.174 after the US Federal Reserve pledged to keep interest rates on hold until at least the end of 2023, but failed to unveil more policy easing. The euro has been hovering around an over two-year high supported by a relief package agreed by EU leaders back in July.
Historically, the Euro Dollar Exchange Rate - EUR/USD reached an all time high of 1.87 in July of 1973.The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies. Euro Exchange Rate - EUR/USD - Cyprus - data, forecasts, historical chart - was last updated on September of 2020.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.18 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.17 in 12 months time.