Market sceptical of quick fix for Europe
Thomson Reuters – IFR Markets has finished top of this week's one-month forecast rankings, after correctly predicting the euro would lose some ground against the dollar, amid continued pessimism over the situation in Europe.
With EUR/USD trading at 1.2581 on May 25, the firm believed that a series of market-critical events would weigh on the euro, forecasting a rate of 1.25 in one month's time. The spot rate on June 25 was 1.2482.
"One month ago, we were looking ahead to some major event risks –
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