Deutsche Cuts Dollar-Euro Forecast for Year-End '09; Will Get 'More Constructive' on Dollar Next Year
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This morning, Deutsche Bank put out a research note updating its outlook on the U.S. dollar.
The firm lowered its dollar-euro forecast for the year-end '09, saying the dollar will fall to "at least" $1.55/euro. Deutsche said it will get "more constructive" on the dollar in 2010 and is modeling for a possible recovery. Moreover, the firm estimated that the dollar could raise to as high as $1.40/euro or 95/yen sometime next year.
Today, the euro-dollar trade is down 0.6% to around 1.468, while the dollar-yen trade is down 0.02% to around 90.34.
Check out the PowerShares DB US Dollar Index Bullish (NYSE: UUP) and Bearish (NYSE: UDN) funds for an easy way to play the dollar's rise or fall.
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