Euro to Keep Advancing, Yen to Drop Further, BNP Paribas Says
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The euro may strengthen to $1.40 by the third quarter of this year, the highest level since 2011, as positive sentiment persists toward Europe’s 17-nation currency bloc, according to BNP Paribas SA.
The Paris-based bank said it expects “sustained” yen weakness this year, saying Japan’s prime minister will probably push successfully for a weaker currency, more monetary easing and budgetary expansion as he seeks to spur economic growth in the nation. The yen and euro outlooks were detailed in a client note by BNP currency strategists including Michael Sneyd and Steven Saywell in London and Vassili Serebriakov in New York.