Published research this week leans bullish on the euro, with analysts pointing to a move toward 1.17 against the dollar over the coming weeks and potentially further on a longer horizon.
The case rests on two overlapping drivers. Researchers argue that recent US Treasury bond buybacks have pushed long-end yields lower and created a "risk-on, dollar-off" backdrop that weighs on the greenback. At the same time, one thread of analysis highlights record foreign buying of eurozone debt as evidence of durable demand for euro assets.
On levels, the published view frames 1.1700 as the key near-term hurdle. A clean break above it, some analysts suggest, would open the path toward 1.1790, while an end-September target of 1.17 is treated as a base case on the cyclical horizon.
The wider context — softening expectations for further Fed tightening and lingering concerns about US fiscal credibility — reinforces the upside case in the eyes of these researchers. The tactical and cyclical calls differ mainly on timing, not direction: both point higher once resistance gives way.