Banks lower EUR/USD forecasts after pair touch 12-year low

Deutsche and Barclays change their year-end forecasts to 1. SocGen sees parity by March 2016

Euro sign outside the European Central Bank in Frankfurt
The euro's prospects darken

Several top foreign exchange banks have revised their forecasts for the euro against the dollar after the single currency touched a 12-year low last week, on the back of the European Central Bank's (ECB) quantitative easing (QE) programme and as strong US data spurred strategists to bring forward the date of the first US rate hike to June.

Deutsche Bank has revised down its year-end EUR/USD forecast from 1.05 to 1, and to 0.90 and 0.85 by the end of 2016 and 2017, from 0.95 and 0.90

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