Analysts at Credit Agricole expect that the European currency will remain under pressure during the major part of 2011. In their view, any rebound of the pair EUR/USD won’t last long.

The specialists claim that the absence of resolution to peripheral debt concerns will remain the main negative factor for euro in the coming months.

According to Credit Agricole, the actions of the European policymakers aren’t likely to become more convincing and uncertainty won’t leave the markets, while the growth differential in the euro region’s going to further widen.

The strategists forecast that in 3 months the pair EUR/USD will trade at 1.3700 and in 6 months it may fall to 1.3100.

More info about FBS