Euro depreciation was inevitable, says TD Securities

eurodollar-30oct2011

Toronto-Dominion Securities has topped this week's 12-month currency forecast rankings, having taken a negative view on the euro a year ago. On October 1, 2010, with EUR/USD trading at 1.3722, the firm predicted the pair would drop to 1.33 in 12 months' time, accurately reflecting the spot rate on October 3.

"The ongoing negativity that we expected to see in the eurozone with regards to the sovereign fiscal situation, particularly in Greece, dominated our forecasts 12 months ago and that has

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