Nomura International said the euro “will clearly benefit” as traders are digesting the possibility that the ECB will raise interest rates next year. However, forex strategist Dominic Bunning pointed out that since even if an interest rate hike actually occurs, the magnitude may be limited, the rise in the euro is unlikely to break through the $1.20 line.

Nomura International said the euro “will clearly benefit” as traders are digesting the possibility that the ECB will raise interest rates next year. However, forex strategist Dominic Bunning pointed out that since even if an interest rate hike actually occurs, the magnitude may be limited, the rise in the euro is unlikely to break through the $1.20 line.