Deutsche Bank raises euro forecast vs dollar
LONDON, May 12 (Reuters) - Deutsche Bank of Thursday raised its forecast for the euro, citing scepticism about the European Central Bank's ability to weaken the currency further with policy and a retreat in expectations for rises in U.S. interest rates.
Along with Goldman Sachs, Deutsche strategists Alan Ruskin and George Saravelos previously led the way among bank analysts in forecasting a fall in the euro below parity with the dollar, but have steadily pushed back those forecasts.
"Our euro/dollar 2016 and 2017 year-end forecast have each been revised up by five big figures to $1.05 and $0.90 respectively," they said in a note. "The top of the EUR's range is still seen near $1.16." (Reporting by Anirban Nag; editing by Patrick Graham)
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