According to experts' forecasts, the European currency may reach the same level as the U.S. dollar in January 2017 and even drop to about 90 U.S. cents in 2018.
A long-term period of strong dollar is projected owing to expectations of stabilizing interest rate by the U.S. Federal Reserve System and stable economic growth in the U.S. Given this, the bank changed its forecasts for some currency pairs, business web portal MarketWatch informs.
Economic growth and a rise in competitiveness of the currency bloc are contracted by consequences of debt crisis 2012 in Europe. Therefore, it is most likely that the euro will continue its fall against the dollar.
What is more, the forecast for the Australian dollar against the greenback was worsened to $0.75 to the end of 2015 versus the previous estimate of $0.79. It happened due to the fall in raw material prices. In the opinion of Goldman's economists, the Australian dollar would stay at 75 cents up to the end of 2017.
On Thursday the euro reached $1.1754, the lowest level since late 2005. The initial euro exchange rate to the dollar set on January 4, 1999 made up $1.1789 which is higher than the current level. It is noteworthy that the euro equaled dollar twice – in 1999-2000 and 2002.
