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Euro Wild Ride to 2006 Low Shows Risk Forecasters Undershooting

From bloomberg.com

The euro’s stunning start to the week highlights the risk that currency bears will repeat the mistakes of last year by predicting too conservative a drop in 2015. The single currency slumped to $1.1864, the lowest since March 2006, at 7 a.m. Tokyo time. The drop, which analysts said wasn’t prompted by any fresh news, put the 19-nation euro within reach of the median estimate of $1.18 for this year-end among more than 50 strategists surveyed by Bloomberg News. Trading patterns suggest it could reach the 2005 low of $1.1640 if the exchange rate closes below $1.18 this week. The euro added to its biggest annual decline ... (full story)

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