Societe Generale Analyst: Euro Could Rise to 1.20 Against Dollar if Hormuz Strait Reopens

On April 14, Societe Generale analyst Kit Juckes stated in a report that the euro might further rise to the 1.20 level against the U.S. dollar if the de-escalation of the Iran conflict leads to the reopening of the Hormuz Strait. According to Jin10, even if energy prices decline, Societe Generale still expects the European Central Bank to raise interest rates in June and September, while the Federal Reserve is anticipated to keep rates unchanged. Juckes noted that this expectation is already priced into the market, suggesting limited impact on future trends, but it does support the euro's potential further appreciation against the dollar.