MUFG has released a forecast indicating a long-term bear market for the US Dollar, suggesting that the EUR/USD exchange rate could soon surpass the 1.20 mark. Historically, between 2004 and 2014, the EUR/USD pair consistently traded above this level. However, it dropped below for most of the past decade. As the dollar’s exceptionalism diminishes and the global financial outlook changes, MUFG anticipates a shift that will allow the Euro to regain strength.