Brown Brothers Harriman predicts drop in euro / dollar

The U.S. currency today continued to strengthen its position, and Marc Chandler of Brown Brothers Harriman noted that the current movement may be more than just a correction. "A bubble in the market shares of China, finally, burst ... and the world's stock markets moved to the stage of decline," - said Chandler, adding that the weakening appetite for risk is likely to continue. He remains concerned about the situation in Eastern Europe, particularly in Hungary, and he sees the risk that the anxiety about the future prospects of the region could affect the mood of investors and the dynamics of a single European currency. Meanwhile, Chandler also noted signs that the U.S. economy could begin to rebuild much more than some other countries, which will come as a surprise to many market participants, and can support the American currency, which in BBH had forecast for euro / dollar at the end of the quarter at $ 1.41 and $ 1.36 at year-end.