Banks find USD’s future hazy
JP Morgan is calling a weaker dollar next year, based on expectations the market will remain pro-risk into 2010. The US bank is forecasting EUR/USD to reach $1.62 by June 2010, from $1.51 on December 2 this year. Bank analysts said although their view was challenged by Dubai World’s proposals on November 27 to place a six-month repayment standstill on its $59 billion debt, they did not change their 2010 currency forecasts. EUR/USD reached $1.4938 on November 28 from $1.5078 the previous day
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