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Friday, June 03, 2005

Things Are Starting To Move

Given that everybody who's anybody (except me that is) has been arguing for a dollar fall, this is interesting news:

Goldman Sachs Group Inc. abandoned its call for a weaker dollar and raised both three- and six-month forecasts against the euro and yen after it this week climbed to an eight-month high versus Europe's common currency.

Goldman, the world's third-biggest securities firm by market value, expects the dollar to trade at $1.20 per euro and 108 yen in three months, and $1.25 per euro and 102 yen in six months, from previous estimates for a decline to $1.35 and 98 yen. The firm also raised its 12-month forecast to $1.30 per euro from $1.40, while leaving its yen forecast at 95.

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