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Goldman Sachs Group Inc. raised its 2007 forecast for the euro against dollar on expectations stronger economic growth in Europe will support the 13-nation currency.
From today's seven-week low of $1.289, the euro will rise to $1.35 in three months, Goldman's currency strategists wrote in a research note published today. The bank had previously predicted the euro would trade at $1.3 in three months. Goldman predicts a euro rally to $1.35 in six months and forecasts a record $1.37 a year from now. The New York-based bank previously expected the euro to trade at $1.32 in six months and in 12 months, according to the research report. (Bloomberg)