The euro touched a session high of $1.189 on Wednesday, not far from last week's two-year high of $1.191, after PMI data confirmed the Eurozone private sector activity grew in July by the most since June 2018 while the retail trade report showed the bloc's sales bounced back to pre-pandemic levels. The euro enjoyed its best month in a decade during July supported by a massive relief package agreed by EU leaders and dollar weakness.
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 - Germany - data, forecasts, historical chart - was last updated on August 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.