It is hard to see the euro not appreciating against the dollar

It is hard to see the euro not appreciating against the dollar , for five reasons: The Federal Reserve is going to lower its interest rates; Investors currently believe that the euro zone is going to slip into recession and are selling euro-zone financial assets: they are going to have to become more optimistic; In the United States, domestic demand stimulus at full employment is going to lead to a deterioration in foreign trade at a time when international demand for dollars is weakening; US growth is inevitably going to slow; Central banks are no longer increasing their foreign exchange reserves and are even starting to reduce the dollar’s weighting . A depreciation of the dollar would probably please Donald Trump.