Bank predicts stronger euro with slower global growth

A stronger euro, a higher cost of debt and slower global economic growth are likely in the months ahead, according to the Ulster Bank mid-year outlook report released today.

Writing in Outlook, Niall Dunne, Ulster Bank’s Financial Markets Strategist, warned of a stronger euro if the dollar slides into year-end.

The report also looks at the prospects for the British pound, and forecasts a euro/sterling rate exchange rate of 72p by the New Year.

Ulster Bank is a subsidiary of the Royal Bank of Scotland Group, the second largest bank in Europe and the fifth largest in the world by market capitalisation.