Fund managers negative about the euro
A monthly global survey by Merrill Lynch released on May 14 revealed 50% of managers surveyed expect the euro to depreciate on a trade-weighted basis over the next 12 months, up from 43% in April. For the same period, managers are more positive on the currency, with 31% of managers expecting the dollar to appreciate, up from 23% a month earlier. Managers were fairly stable on yen, with 20% expecting appreciation, down from 22% in April.
The bearish euro view was also reflected by a change in
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