As we know - Barclays estimated the target for EUR/USD at year-end as 1.04. Fow now - Nomura evaluated this pair against the possible fundamental risks and factors and told about 1.05:
"As the Greek situation becomes clearer, the market will refocus on the widening gap of short-end yields between the US and euro area, which have been a more significant driver for the EUR/USD than long-term bund yields."
"Even though US economic data has improved in Q2, the rates market prices out a possibility of Fed liftoff in 2015 and 2-5yr US yields have declined over the last few weeks. Upside room for the US short-end of the curve remains high by end-2015, pointing the restart of EUR/USD depreciation into year end. We keep our end-2015 target of EUR/USD at 1.05 for now."
According to my evaluation - the year-end target may be 1.0461:
So, 1.04 (or 1.05) for EUR/USD may be the reality in the end of this year.
