3 month 1.22
6 month 1.35
1year 1.38
The bank says over next 3 months they continue to envision euro weakness from current spot, as they think it’s too early to sound the all clear on the euroland sovereign risk issues. Indeed they feel political stress could increase given that several European governments have very low approval ratings, which could come to the fore after the summer holiday period.
One bank’s opinion. Make of it what you will.