Euro ‘to weaken’ in coming months

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Evaporating hopes for an economic recovery and last month’s botched bailout of Cyprus persuaded analysts to chop their outlook again for the euro over the coming months, a Reuters poll showed.

Although the median expectation of more than 60 analysts surveyed over the last few days shows the euro trading around its current levels near $1.28 (84p) over the next few months, further out, the poll shows the currency weakening to around $1.25.

Overall, forecasts for the euro were about 2 cents weaker compared with last month’s poll, which also reflected its roughly 6 per cent depreciation against the dollar since the start of February.

 

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