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Forex Flash: EUR/USD could hit 1.400 in 2013 – ANZ

By FXstreet.com,  January 10, 2013, 11:30:00 AM EDT

FXstreet.com (Barcelona) - It is encouraging that 2013 has begun without forecasts of a break-up of the euro taking center stage. According to the ANZ Research Team, "This more optimistic assessment owes everything to the politically inspired reforms over the past couple of years, the pro-active stance from the ECB and the resolve being shown at national levels to budgetary improvement and restructuring."

As a central case view, "we expect this momentum to continue and to be visible in a re-weighting of risk appetite towards the euro. During 2013, this should be reflected in narrower intra-regional bond spreads, firmer equity markets and a gradual appreciation in EUR/USD above 1.4000. This would be consistent with a normalization in the exchange rate in line with our cyclical fair values estimates for the currency." the team posits.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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