March 13, 2015 / 10:35 AM / 5 years ago

Goldman slashes euro forecasts, sees $0.80 by end-2017

LONDON, March 13 (Reuters) - U.S. investment bank Goldman Sachs slashed its forecasts for the euro on Friday, predicting that it will plunge through parity with the dollar within a year and hit a new record low by the end of 2017.

Goldman’s outlook for the euro is now the gloomiest of all major financial institutions, and comes at the end of a week that saw the European Central Bank launch its bond-buying “quantitative easing” stimulus programme and several banks slash their single currency forecasts.

Goldman sees the euro at $0.95 within 12 months, compared with $1.08 when it issued its last forecasts in late January, $0.85 by the end of next year, compared with $1.00, and $0.80 by the end of 2017 compared with $0.90.

The euro fell to a 12-year low this week of $1.0494. Its current all-time low is $0.8225, hit in October 2000.

Reporting by Jamie McGeever, editing by Nigel Stephenson

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