Crédit Agricole’s euro view turns from bull to bear

Polar bear standing in the snow

Crédit Agricole Corporate & Investment Bank has topped this week's one-month currency forecast rankings with a bullish prediction that EUR/USD would remain fairly level despite escalating concerns over eurozone sovereign risk.

On May 13, strategists at the French bank expected EUR/USD to be at 1.43 in a month's time, which reflected the spot rate on June 13.

"One can dispute how things will ultimately pan out for the eurozone's periphery, but we felt that an exchange rate between 1.45 and 1.50

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