BLBG: Goldman Sachs Says Buy Euro Against the Dollar, May Reach $1.45
By Anchalee Worrachate
March 12 (Bloomberg) -- Investors should buy the euro against the dollar, betting it may rise to $1.45, Goldman Sachs Group Inc. said.
“While we do see sustainable dollar strength in the more distant future, we think the short-term pressures are likely to reverse,” Goldman Sachs analysts including Thomas Stolper in London wrote in an e-mailed report today. “We think euro-dollar has the potential to rally from here towards our three-month forecast. We would go long with a stop on a one-day close below $1.35.”
The euro climbed 0.7 percent to $1.3780 as of 12:07 p.m. in London.
To contact the reporter on this story: Anchalee Worrachate in London at aworrachate@bloomberg.net
