Credit Agricole sees no compelling reason to buy euro / dollar

Credit Agricole is inclined to sell euro and buy dollar

In brief: Dollar exchange rate will continue to grow - say the Credit Agricole experts.

Dollar exchange rate will continue to grow – think Credit Agricole experts.As noted by the Credit Agricole currency analysts, on the basis of valuation, compelling reasons to buy a pair euro / dollar higher than 1.30 are not available. According to specialists of the bank, the fair value of the euro against the dollar is about 1.20.

In addition, note in the bank, the issue of strengthening the single currency is that it is doomed to failure, because it will have negative consequences for European growth. At the moment the euro / dollar is at around 1.2965.

Ukrainian Globalist
2010-07-18 11:48, Currency news.

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