📝 Lowering EUR/USD Target to 0.90 For 1Q 2023: J.P. Morgan Strategy

We have been recommending shorts in EUR/USD since the middle of last year, and our target of 0.95 was closely tested this month. But there are still reasons to stay bearish—worsening carry vs. USD, energy dependence, valuations and growing risks to global growth. Lowering target for the euro against the dollar to 0.90 in Q1 2023; year-end target of 0.95 is unchanged

- J.P. Morgan Strategy