TD Securities: The US Dollar’s Performance Is More Likely to Drive the Euro Than the European Central Bank

```htmlJinse Finance reported that on June 4th, TD Securities strategists stated in a report that the potential for the euro to rise depends more on the decline of the US dollar than on a possible rate hike by the European Central Bank. They said the European Central Bank may raise interest rates on June 11th, but any increase in the euro could be limited, as the market expects more than two rate hikes this year and recent eurozone data has been weaker than expected. “While we continue to expect the euro to rise to $1.20 by the end of this year, further strengthening may require a broad weakening of the US dollar,” they said. US data and the Federal Reserve’s June 17th decision will determine whether the US dollar will fall.```