• 
• See all for FXstreet.com
• View Print Version

FXstreet.com (Barcelona) - The Euro might have set a long-term top at 1.4280 on early November, as the pair is expected to trade between 1.3200 and 1.2600 during the whole 2011 year, with debt concerns weighing on the common currency, according to the CIBC Exchange Rate Forecast.

The Euro Dollar is expected to drop from the current 1.3200 area to 1.2600 on the first quarter of next year, according to CIBC: The Eurozone debt story is far from over, and could again be front and centre if the Irish election creates doubts about the political viability of the IMF/EU deal. We see the euro headed for another dip, and a generally strong start to 2011 for the greenback."

From Q1 lows, the pair is expected to pick up to 1.2900 in the second quarter of the year, and extend to 1.3100 in the third quarter, to return to current levels, 1.3200 by the end of 2011.

Related Forex and Currencies Articles

• 
  U.S stocks end mixed on manufacturing data; Dow gains 0.06%
  5/24/2013 01:25 PM
• 
  Forex - Dollar erases gains earned on factory data, dips as stocks rise
  5/24/2013 11:25 AM
• 
  Gold falls as order for U.S. durable goods surprise on upside
  5/24/2013 10:25 AM