Goldman Sachs: euro will be equal to $1.35 by Feb'11.
2010-03-09 10:38 |
Goldman Sachs: euro will be equal to $1.35 by February 2011.
Goldman Sachs analysts think that by February 2011 euro will be equal to $1.35, while before they estimated the single currency at $1.45 level. According to the bank’s forecast, it’s quite possible that euro will hit parity with dollar in the next years.
Such assumption is based on the fact that the fair value of euro is 1.23. As we have seen it trading above by 22%, it’s likely that European currency can fall by this amount.
Goldman Sachs also expects European Central Bank’s first rate to rise from the last quarter of 2020 to 2011. It will happen as leaving non-standard measures would pass slower – on March 4 ECB decided to maintain extremely low 1% borrowing costs stimulating economy to overcome financial crisis.
Chart. Daily EUR/USD
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