Faith in euro recovery lands BAML on top

Eurodollar July 8 2013

Bank of America Merrill Lynch (BAML) has topped this week's 12-month currency forecast rankings after predicting in mid-2012 that the euro would appreciate in the long term as European Union officials addressed tail risks and stabilised the ongoing crisis.

At the time of forecasting on June 29, 2012, EUR/USD was trading at 1.2581, having fallen from highs of 1.49 in 2011 as negative sentiment prevailed in Europe. But BAML stuck to its belief in the euro's resilience, forecasting the currency to

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