Dollar Recovery

May 2005 | Currency Forecast

In line with the short-term view in our March euro forecast, the euro has weakened over the past few weeks, dropping above US$1.3050/EUR to test the key US$1.2500/EUR area. Whilst we expect reasonable euro support in this region, a break below US$1.2500/EUR would set up a decline towards US$1.2000/EUR, which we think likely over the coming weeks.

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