Goldman marked itself as a bull on EUR/USD in its Global viewpoint publication on Wednesday. The bank is now predicting 1.5500 in the next year. Of course Goldman’s appalling call targeting 1.1500 in early June, when the spot was at its lows, got everyone’s contrarian indicator bells ringing. Everyone is entitled to the occasional erroneous prediction – even our favourite investment bank – but the rally does feel relentless: USD/CHF is at an all time low; USD/JPY is at a 15-year low; and now, to the detriment of my pee-in-the-wind FX account, EUR/USD has sailed imperiously through the 61.8%
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