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Deutsche Bank turns less bearish on the euro
Currency analysts at Deutsche Bank, among the most gloomy on the euro's prospects against the dollar, now expect the currency to hold its ground in coming months before falling below parity with the greenback by the end of the year. George Saravelos, the bank's global co-head of foreign exchange research, said on Wednesday he now sees the euro at $1.08 at the end of the second quarter and $1.03 at the end of the third, compared to $1.00 and $0.98 previously. There is a chance of a bounce to $1.10 in the coming months from $1.06 currently, before it resumes its slide towards Deutsche's long-held target of $0.95 by the ... (full story)
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