Merrill's fundamental edge tops rankings
The robustness of the European economy, rising interest rate differential with the US and central bank demand had all supported the case for euro strength, said the bank. These expectations generated EUR/USD and EUR/JPY forecasts of 1.57 and 162 respectively, comparable to last Monday's spot rates of 1.5718 and 161.24.
Steven Englander, G-10 foreign exchange strategist at Merrill in New York, said over the past three months the strategy team had focused primarily on risk-adjusted interest rate
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