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Wall Street FX Strategists Hit Reset After Euro Calls Fall Short

  • Euro up more than 3% in 2018, above prior targets for year-end
  • Some analysts now predicting move toward $1.30 area for euro
Bloomberg business news

SocGen's Juckes Says FX Is Not in Crosshairs of Selloff

Wall Street’s top currency strategists had the right idea when it came to the euro -- they just weren’t right enough.

Foreign-exchange forecasters are headed back to the drawing board less than six weeks into the new year after the euro blew straight past most of their predictions for 2018. Europe’s common currency has already advanced more than 3 percent since Dec. 31, easily topping the median survey forecast of $1.22 from back then. It’s currently trading closer to $1.24, even after a pullback over recent days, and its advance has prompted a swath of analysts to lift their projections.