Euro Pessimism Reaching Point Where Some Say It’s Time to Buy

bloomb

The next turn in the euro’s roller-coaster ride may not be far. After starting the year with a bang, the common currency was ambushed by adversities from dollar strength to turmoil in Italy and Turkey, and slid to a 14-month low last week. The selloff now looks overdone, and the euro may recover on the prospect of stronger growth and reduced political risks in the region, according to Aviva Investors Global Services. Europe’s shared currency has dropped almost 4 percent against the dollar this year, after a stellar 14 percent rally in 2017. Its declines in recent months prompted a slew of forecast cuts, lowering the year-end target in a Bloomberg survey of strategists to $1.17 from as high as $1.27 in March. The latest projection still implies a 1.1 percent gain from current levels…

Read more : Bloomberg, 23.08.2018