Strategists lower Euro forecasts, remain skeptical over Yen interventions - Reuters

Reuters’ latest poll of foreign exchange strategists shows a modest downward revision in Euro (EUR) forecasts while highlighting persistent market skepticism over the effectiveness of Japanese currency intervention.

According to the survey, the EUR/USD pair is expected to trade at 1.15 in three months and 1.16 in six months, down from forecasts of 1.16 and 1.17, respectively, in July's poll. However, the one-year forecast remains unchanged at 1.18, suggesting that respondents still expect the single currency to appreciate gradually over the longer term.

The survey also reveals a strong consensus on Japan. 55 of the 58 FX strategists surveyed believe that future currency interventions by the Japanese authorities alone would not be sufficient to sustainably curb the Japanese Yen's weakness.