Tuesday, June 8, 2010

Solid assessment

June 8 (Bloomberg) -- Deutsche Bank AG pushed back its forecast that the euro will strengthen to $1.35 to the first quarter from the end of this year, saying the common currency may first drop to as low as $1.15.
“We see risk aversion driving the dollar higher over the summer, but expect dollar weakness beyond that,” Bilal Hafeez, chief currency strategist in London, said today in an investor report. “We therefore maintain our bullish profile for the euro for the second half of 2010, though we extend the time needed to reach our $1.35 target.” --
Full text
Comment: A prognosis that may well come true, albeit without the detour.

No comments:

Post a Comment