CBA: Hung parliament won’t kill sterling
Commonwealth Bank of Australia (CBA) topped the one-month currency forecast index this week with a euro-bearish outlook.
Richard Grace, chief currency strategist at CBA in Sydney, forecast a weaker euro due to ongoing problems related to Greece's sovereign debt. CBA predicted EUR/USD would fall to 1.37. The March 1 spot rate was 1.3643, a decline from 1.3905 on February 1.
Furthermore, Grace anticipated the slowing pace of eurozone economic recovery. Eurozone retail sales are still in negative
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