Goldman Strategist Forecasts EUR/USD Will Climb to 1.37

January 11, 2013 1:15 PM EST
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In a note today, Goldman Sachs said it thinks the euro could climb to $1.37 over the next 14 months. With this in mind, strategist Thomas Stolper recommended investors buy EUR/USD with a stop at $1.29. If his forecast proves correct, the Euro would recover to trade at its highest level since late 2011.

Yesterday CurrencyShares Euro Trust (NYSE: FXE), tied to the spot rate of EUR/USD, climbed after the ECB left interest rates in the Euro Zone unchanged. Investors were moved by comments during a question and answer session, which taken together with a unanimous vote to hold interest rates steady, was seen as hawkish relative to the Fed's ultra-easy policy.

CurrencyShares Euro Trust is higher by 0.8 percent intra-day on Friday. EUR/USD trades at 1.3360.

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