FXstreet.com (Barcelona) - ECB’s Draghi surprised Merrill Lynch analysts (being a central bank governor with a market-determined currency) by saying it was “pointless to short the Euro”. However, the analysts don’t agree with that view, as they forecast a drop to 1.18 in Q3 and a year-end rate at 1.15: “Weak periphery fundamentals, the inability to agree on any further assumption of liabilities and market concerns that the ECB may not be there as a backstop if countries do not request EFSF/ESM help first – combined with our call for an ECB rate cut in September – should weaken the Euro, particularly if QE3 in the US only follows further negative data”, wrote analyst Laurence Boone.