Although excessive EUR strength, lower inflation or weaker activity data would increase the likelihood of further monetary easing by the ECB, the central bank is likely to keep rates on hold until at least mid-2105, projects Goldman Sachs. Such an expectation for the ECB monetary policy along with the strong current account and BBoP trend for the Euro area, constitute GS' bullish view on the EUR over the coming months. "In contrast to the weaker balance for the US, this structural imbalance implies a gradually weaker USD and a stronger EUR. Rising growth expectations for the Euro area make it likely that risk ... (full story)