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fxJun 12, 2026, 9:36 AM

Nordea Sees Medium-Term Upside for EUR/USD

Nordea strategist Jan von Gerich argues the dollar has underperformed relative to historical patterns and expects a higher EUR/USD in the medium term, despite the pair remaining stuck between 1.15 and 1.16.

EURUSD

Nordea's Jan von Gerich notes that EUR/USD remains trapped in the 1.15–1.16 range, even as strong US data and favorable US interest rate differentials would normally support the dollar. He contends the dollar has underperformed versus historical patterns and maintains a medium-term bullish view on EUR/USD.

The analyst expects the pair to eventually break higher, though near-term catalysts remain unclear. The call implies that the current range-bound trading may resolve to the upside once the market re-prices dollar fundamentals.

Source: FXStreet Forex News