The Euro traded below $1.104 early on Friday, the weakest since December 2nd after the ECB President Christine Lagarde took a more dovish tone during the ECB press conference on Thursday. Also, data showed business activity in the Euro Area remained very weak in January as slight improvement in manufacturing activity was not enough to offset a slower growth in services.
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.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.11 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.10 in 12 months time.