Financial Insights That Matter
Currency strategists are revising their forecasts for the euro after the US elections and arriving at a new projection: a decline towards parity with the dollar.
At least 10 banks — including Barclays, Deutsche Bank and Nomura International — cut their forecasts last week, a turnaround from previous months when many were raising expectations for the common currency. Pictet Wealth Management is among those predicting a 6% drop towards parity. In the options market, traders are betting against the euro as one of the main strategies to take advantage of the prospects of Donald Trump’s presidency.
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