EUR/USD dipped to a low of about 1.0950 around mid-July following the surprise outcome of the Brexit vote. Investor worry over the economic impact of Brexit led the common currency down, but it didn’t stay in the dip for long. It briefly rebounded, blowing through the 1.13 mark and has been rallying in the vicinity of 1.12.
However, the common currency doesn’t seem to have enough energy to maintain a lofty position through the end of the year. The analysts have cited a number of reasons they believe EUR/USD will drift lower in 2016.