6 January 2004, 13:00  German BGA exporters group sees end to euro rally

BERLIN, Jan 6 - The head of Germany's BGA foreign and wholesale trade association said on Tuesday he was optimistic the country could achieve export growth of 4.5 percent this year despite the rise in the euro's exchange rate. "That (forecast) remains valid up until now," BGA President Anton Boerner told in a telephone interview. Boerner said he expected the euro to average between $1.250 and $1.275 this year, clearly above 2003 levels, but believed fears the euro could strengthen much further were overblown. "I don't see us reaching $1.40," Boerner said, adding however the currency could range as high as $1.30 or just over within the next three months . Boerner said one reason he was optimistic on the outlook for exporters was that he was convinced Asian currencies pegged to the dollar would be forced to revalue.//

© 1999-2024 Forex EuroClub
All rights reserved