HVB climbs through the ranks
"There has been no conspicuous change in our forecasts this year, but our view has always been based on political intervention on FX rates," said Armin Mekelburg, currency strategist at HVB in Munich.
HVB’s 12-month EUR/USD forecast currently lies at 1.42 but Mekelburg says the bank is reviewing this and is set to adjust this towards 1.37. "There have been complaints from senior European and Canadian officials that their respective currencies are bearing the brunt of the weakened dollar. Markets
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