Deutsche Bank: There is further room for the Euro to strengthen against the US Dollar.

According to LSEG data, the euro touched a four-year high of $1.1918 after the Federal Reserve cut interest rates last week. Foreign exchange strategists at Deutsche Bank mentioned in a report that the euro is likely to continue its upward trend against the US dollar. As investors continue to withdraw from the US dollar and US assets, it is expected that the euro will rise above 1.20 against the US dollar.