Wells Fargo expects the EUR/USD to decline.

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Analysts at Wells Fargo think that ECB will choose to ease the monetary policy further in the upcoming meeting, taking into account the Eurozone Q4 GDP data.

“While the broader expansion in euro area economic activity remains in place, the 1.5 percent year-ago growth rate registered in Q4 is hardly a blockbuster pace, and has not been strong enough to stoke sustained inflationary pressures in the region.” said in the report.

Given the further rate hike expectations, Wells Fargo estimates the Euro to weaken against US dollar in a medium term.

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