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Danske Bank: EUR/USD will rise in a year
Currency strategists at Danske Bank came up with concrete forecasts for the pair EUR/USD.
The specialists note that the United States face weaker than expected growth, long period of minimal interest rates, large current account deficit as well as the serious fiscal challenges and increased political risks.
As a result, in medium-term the bank is bearish on the greenback and thinks that in such conditions the single currency will be able to gain.
According to Danske Bank, euro will rise to $1.50 versus its American counterpart in a year. The previous forecast was at $1.36. The 3-month estimate though was reduced to $1.42 on the expectations of weak macro data during the next few months.
Commerzbank: comments on USD/JPY
On Friday the greenback renewed the record minimum against Japanese yen by falling to 75.94. However, the pair USD/JPY managed to jump above the previous lows in the 76.25/30 area and return to the former trading range, reports Commerzbank. The bank specialists expect American currency to stay there during the coming days. In their view, the bias will be slightly positive.