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Euro forecast trimmed as strategists doubt yen intervention impact

A Reuters poll pegs EUR/USD at 1.15 in three months and 1.16 in six months, while 55 of 58 strategists say Japan’s interventions alone will not sustainably curb yen weakness.

Reported · Written up by our desk · Major Pairs

Reuters, via an FX strategists poll, has modestly lowered its Euro outlook while keeping a more cautious view of whether Japanese currency interventions can meaningfully reverse yen weakness.

In the survey, strategists project EUR/USD at 1.15 in three months and 1.16 in six months, down from earlier July estimates of 1.16 and 1.17, respectively. The one year forecast remains at 1.18, implying respondents still expect the euro to appreciate gradually over the longer term.

The poll also shows a strong consensus on Japan, with 55 of 58 FX strategists saying future interventions by Japanese authorities alone would not be sufficient to sustainably curb the yen’s weakness.

Latest closeEUR/USD 1.153 ▼0.1%

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