A long piece via on Goldman Sachs FX forecasts on euro and yen
eFX
We continue to believe that EUR/USD and EUR/GBP will move substantially lower on diverging growth and monetary policy outlooks. The EUR has already weakened significantly over the last 18 months, but we think this trend has a long way to run. In particular, we see a couple of longer-term fundamental forces at work. First, the flow picture should turn increasingly EUR-negative as Euro area residents send funds abroad and reserve managers allocate away from the EUR.