Following the EUR/USD pair’s drop to the fresh low in three months, analysts as the Bank of American (BofA) reiterated their extreme bearish bias for the currency major.
The investment bank’s latest report initially spots the upbeat US data and hawkish Fed to portray the greenback’s good performance this year before marking a strong consensus against the US dollar (USD).
The report also cited the daily chart on Bloomberg terminal to say that they have been the most bearish on EUR/USD and the only one with a forecast as low as 1.15, even today.
It’s worth noting that the risk-off mood recently put a safe-haven bid under the US currency, also dragging down the Antipodeans. However, gold seems to remain less affected due to its risk-safety allure.
Read: EUR/USD Price Analysis: Defends 1.1800 on the way to two-month-old support