Targeting 1.1600
Morgan Stanley is out with a Global FX Strategy. Plain and simple. Buy EURUSD.
They say:
“A weaker USD, looser financial conditions and the Brexit risk event out the way have meant that there are sings of businesses starting to grow around the world. We are not saying that all is rosy and that growth rates will reach average pre-2007 level, but we believe that the FX markets right now will respond to changes in economic circumstances and surprises. In fact, the MSCI world equity index has become more correlated with global economic surprises”