The euro could fall to $1.27 by the end of May, and by the end of June, BBVA says the euro could fall to $1.25. "We need to break out of the $1.33 to $1.30 range to figure out where the next leg is," says the firm's Dustin Reid. Euro at $1.3074 on Fri, down about 0.9% on day. USD/JPY will move lower and Japanese authorities could intervene around Y80 if the move becomes swift, Reid contends. "If it's a slow grind, it may be different, but if we had another downdraft, and if authorities thought the moves were speculation driven, there's a direct risk of intervention," he says. "They won't let it fall to the mid-70s ... (full story)