The sentiment of German companies about euro has worsened this month in comparison with March: 66% of participants now expect EUR/USD to fall during a year, while last month this figure accounted for 46%.
As a result, the bank says that if the current uptrend for the pair doesn’t reverse in the coming months, some firms may record significant losses.
Respondents also expect the single currency to fall versus Swiss franc, pound, Polish zloty and Russian ruble.
Chart. Daily EUR/USD
As per today's forex signals, the euro surged against the dollar on Tuesday posting its largest one-day rally in nearly three months, as ambiguities related to the Greek debt crisis and poor U.S. economic data remained in focus.
ReplyDelete