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A Reuters poll shows that the euro will rebound from its decline at the beginning of the year and rise in the next 12 months. The euro's performance at the beginning of this year was the worst since 2015.
The euro fell nearly 4.5% against the dollar in 2018, and its performance so far this year has not improved. It fell more than 2% in the period from January to March, the worst performance in the same period in four years.
This is mainly due to weak growth and inflation prospects in the euro area. This outlook has forced the ECB to rule out interest rate hikes this year and to announce a new long-term low-interest loan called TLTRO.
But a survey of more than 75 analysts this week shows that the euro will reverse this trend, rising by about 5% to 1.18 in the next year. The euro was around 1.12 against the dollar on Thursday.
"Although Europe is still affected by external trade concerns, if trade tensions between the United States and China ease in the second half of the year, leading to better external data, we expect the euro to strengthen in the medium term," said Jeremy Stretch, head of G10 currency strategy in the capital market of Imperial Commercial Bank of Canada.


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