Top Euro Forecaster Goes Against Consensus to Stay Bullish
- Currency may touch $1.18 by mid-2018, says DZ Bank’s Marten
- The euro has risen against all its G-10 peers in 2017
Is the Euro Doomed?
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The euro’s surge against the dollar this year still has legs, according to the currency’s most accurate forecaster.
While the 8 percent advance in 2017 to $1.14 is showing some signs of cooling off this week, the euro is likely to maintain its upward trajectory to reach $1.15 by the end of this year and $1.18 by mid-2018, according to DZ Bank AG, which had the best estimate for the second quarter. The bank’s calls are above the median forecast in Bloomberg’s survey, which sees the pair lower at $1.13 by end-2017 and at the middle of next year.