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Wall Street Believes the Euro Rally is Just Getting Started
The collective hive mind of Wall Street is backing a view that the euro rally is just getting started. With energy prices tumbling and calls for a region-wide recession falling to the wayside, a clear narrative is emerging that the worst of the economic damage is over and European assets are cheap. Deutsche Bank AG and Morgan Stanley strategists say the euro can rally to $1.15, up from the current seven-month high of $1.07. Nomura International Plc is forecasting a rise to $1.10 by the end of the month, while Aegon Asset Management’s Gareth Gettinby is planning to add to his position in the currency. “We got the ... (full story)
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