Tuesday, September 4, 2012

Quo vadis, euro?

Traders Diverge Most in 13 Months From Strategists on Euro

With the euro facing one of the most pivotal months in its 13-year history, traders and strategists are more divided than at any time since 2011 over whether officials will be able to keep the currency from tumbling.
At about $1.26, the 17-nation euro is 3.3 percent above the $1.22 median year-end estimate of more than 50 analysts compiled by Bloomberg, after the gap expanded to 3.8 percent last week. The last time the euro exceeded the consensus by that much was in July 2011, and it tumbled 9.4 percent in the next 10 weeks.
ECB: The International Role of the Euro
Comment: The majority is still overly pessimistic as to the euro. I guess I'll stay bullish.

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