Diverging data muddies forecasts
CURRENCY FORECASTS
"Our fundamental model sees the EUR/USD below 1.20 by the end of the year. Our technical model puts it at 1.38." Knuthsen told FX Week. He added that it is very unusual to have such a large divergence between models.
Knuthsen said the other main difficulty in creating a permanent model for forecasting FX markets is anticipating when shifts will occur: "We definitely see EUR/USD going lower into 2007, reaching 1.30 during the next two months. However, obviously the position will be relative to
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