HSBC Is the Latest Big Bank Saying Euro Has More Room to Rally
- London bank raised its 2016 forecast to $1.20 from $1.10
- Shared currency rallies versus most peers this quarter
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HSBC Holdings Plc is the latest bank this month to join the euro boosters.
The 19-nation currency is poised to strengthen 0.9 percent against the dollar this quarter as strategists doubt the European Central Bank is ready to expand its quantitative-easing program to stimulate economic growth and inflation. On Monday, HSBC joined Morgan Stanley, Bank of America Corp. and Citigroup Inc. in raising forecasts this month for the euro against the dollar.