Reuters polls are in full swing and their currency polls have been churning off the virtual presses.
Robert Mialich of UniCredit in Milan finished top of the pops in 2013 for forecasting and for the second time. He’s been in the top five for 5 of the last 6 polling years. He expects the euro to continue to rise further in 2014 as the economy picks up.
“We still believe the euro has room to align against the dollar and also appreciate steadily. We are not saying the euro will run to the stars but we are not convinced Fed tapering itself will trigger a heavy euro sell-off this year,” he said.
He also sees the yen slide continuing on the back of further BOJ action.
“The BOJ (Bank of Japan) will remain extremely accommodative this year. We think the BOJ will be extremely keen to offset any potential drawback to the economy through a weaker currency,”
Here’s the lowdown from the poll;
- Majority see USD being the best performer in H1 2014, EUR & JPY to be the worst
- EUR/USD at 1.35 1mths, 1.30 6mths, 1.27 12mths
- USD/JPY at 104 1m, 106 6m, 110 12m
- GBP/USD 1.64 1m, 1.61 6m, 1.59 12m
- EUR/GBP 0.8280 1m, 0.8160 6m, 0.8000 12m
- USD/CAD 1.07 1m, 1.08 6m, 1.09 12m
Do you intrepid traders of the forex world agree?
