Goldman Sachs have lowered their forecasts for EUR/USD

I posted a table of the Goldman Sachs forecasts here:

• Goldman Sachs, outlooks for G10 currencies against the USD

For the 3 and 6 month horizons GS had 1.16 and 1.18 (see that post linked above). But have now cut the forecasts to:

• 3 months 1.14
• 6 months 1.16

GS say that unless the upcoming preliminary PMIs show significant upside surprises:

• we would expect markets to remain focused on downside risks to Euro Area activity. We are therefore revising our 3m and 6m EUR/USD forecasts