Danske Bank Raises EUR/USD 12-Month Target to 1.22 Amid Bullish Bank Shift

Danske Bank forecasts EUR/USD rising to 1.22 in the next 12 months, citing ECB rate hikes versus Fed cuts and easing US-Iran tensions, with the pair at 1.17725 after a +1.72% April gain. The outlook marks a bullish turn from Credit Agricole's 1.13 call by 2027 and Rabobank's short-term 1.14 target, as Bank of America eyes 1.20 by end-2026 and Deutsche Bank above 1.20. EUR/USD rebounded from below 1.15 support to near 1.18 highs, driven by dollar weakness despite geopolitical energy risks.