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Goldman Sachs revises euro-dollar forecast down because of Italy’s political crisis

Goldman Sachs reported today it had reduced its 3, 6 and 12-month prediction for euro-dollar based on political crisis in Italy.

The reviewed forecast for the euro is $1.15 for the three coming months, while the previous estimate was $1.20. 6-month prediction decreased to $1.20 from $1.27, as the forecast for 12 months gives $1.25 instead of previous $1.30.

The euro has dropped to the 10-month low following a failed attempt of forming a government in Italy, which increases chances of re-election, and could actually mean a vote on the country’s membership in the euro zone.

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