FX Forecast Update
Struggling between greed and fear
Tue, May 6 2008, 14:51 GMT
by John Hydeskov
Danske Bank A/S
Summary
- We have adjusted our EUR/USD forecast downwards and now expect the cross to trade at 1.55 in 3M and 1.50 in 6M
- We still expect JPY strength going forward and see USD/JPY at 102 and 100 in 3M and 6M. EUR/CHF is also likely to turn lower, we expect 1.58 in 3M and 1.56 in 6M
- We believe EUR/GBP will remain elevated over the coming three to six months before turning lower
- NOK and SEK have good potential against EUR, while we expect AUD and NZD to underperform relative to USD
- We expect USD/CAD to trade around parity
Published on
Tue, May 6 2008, 14:55 GMT
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