Euro Holds Steady Near Fair Value in 1.15-1.16 Range, Scotiabank Says

The euro is steady in the mid-to-lower 1.15 area against the US dollar, trading near its fair value as implied by 2-year US-Germany yield spreads, according to Scotiabank strategists Shaun Osborne and Eric Theoret. Fundamentals and sentiment are described as constructive, underpinning the currency's recent recovery.

The pair remains confined within a 1.15–1.16 range, and the alignment with rate differentials suggests limited immediate pressure for a decisive breakout. Strategists view the current levels as broadly consistent with the interest-rate backdrop.