We have been long-term bears of the dollar and expect further falls against Asian currencies, including the yen, in 2008. But after the sharp declines in recent years, the outlook against the euro is much harder to call. On balance we now expect the euro to peak at around $1.55 against the dollar in the first half of the year, before dropping back to $1.45 by end-2008.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.