(Bloomberg) -- Dresdner Kleinwort cut its dollar forecast against the euro on slower U.S. economic growth and speculation the Federal Reserve will lower interest rates.
The dollar will fall to $1.42 per euro by year-end, down from the previous forecast of $1.40, Dresdner said in a report on May 8. The U.S. currency reached a record low against the euro last month on bets the Fed will cut rates this year and the European Central Bank will lift borrowing costs a quarter percentage point in June.
Read more at Bloomberg Currencies News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment