Gain Capital: outer eurozone will drag euro down
The online foreign exchange trading company forecast a three-month EUR/USD spot rate of 1.35 on January 29, when it was 1.40, close to the actual spot rate of 1.33 last Monday (April 26). Jacob Oubina, currency strategist at Gain Capital in New Jersey, said: "The funding requirements for much of the eurozone periphery through the middle of 2010 should continue to exert significant downside on the common currency."
Oubina said pressure on the euro will intensify, and remain in a multi-year bear
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