Danske goes against the consensus
CURRENCY FORECASTS
Teis Knuthsen, head of FX research at the Danish bank in Copenhagen, told FX Week that while EUR/USD will continue to rise for a little while longer, the bank expects the US economy to move back towards trend growth in 2007. "And we do not expect the Fed to cut rates," he said.
At the same time, Knuthsen suspects that the German VAT hike will induce some weakness in Europe early next year. If this is correct, the bank expects EUR/USD to move towards 1.25 during the year.
Similarly, Danske is
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