EUR/USD: Rabobank downgrades its forecast for the euro

Rabobank reports that it has made a downward revision of its EUR/USD forecast following recent developments.

"Although the pace of the EUR/USD's decline in recent weeks has exceeded our expectations, we continue to see potential for further decline and have revised our 12-month EUR/USD forecast to 1.12 vs. 1.15 previously.

In view of the risk that the market will take a breath after the recent dive, we target 1.15 within the next 3 months."