Goldman's Stolper Sets 'New' Four-Year FX Plan
November 28, 2012 - 6:56pm
This morning, Goldman announced their 10 Themes for the year. The succinct summation of them (which we will discuss later in more depth) is that: there'll be some volatility on the way but in the end it will all be unicorns and faeries (our translation). In line with these global forecasts, everyone's favorite contrarian FX strategist updated his short- and long-term FX projections. So presented with little comment are Tom Stolper's guide to stop-hunting and fading the crowd. High conviction ideas such as AUD weakness, JPY stability, and a 1.40 EURUSD stood out to us. Via Goldman Sachs: Long-term forecasts to 2016. The most significant change in the way we present our forecasts is that we have dropped our 5-year forecasts and instead have a full annual path out to 2016. For the multi-year projections we typically started with our GSDEER 'fair value' model, and in ma...
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