LONDON (AFX) - The euro remained weak in late trade, hovering around 0.86 usd for most of the afternoon, as the brighter outlook in the U.S. and gloom in euro zone economies discouraged buyers, dealers said.
They added there may be further downside to the euro, although gains may be seen in the near term on short-covering.
CIBC's European economist Audrey Childe-Freeman believes the euro may fall to 0.85 usd by the end of the second quarter, dropping further to 0.82 usd by the end of the third quarter.