The Euro is now facing a year of moribund price action that will see January's highs act as a ceiling over the coming quarters, according to the latest forecasts from Danske Bank, after the European Cenral Bank (ECB) effecitively turned off the music and cut the chord on Thursday. 

Foreign exchange strategists at Danske Bank view the recent jump in the value of the Euro relative to the British Pound as likely to be unsustainable, insisting that any weakness in Sterling should be bought in anticipation of a rebound.

The Pound could experience a significant rise against the Euro over the next year and may see a double-digit increase over the Dollar, say economists at Danske Bank in Copenhagen.

A big upgrade for the Euro to Dollar exchange rate has been announced by Danske Bank who believe a perfect combination of events have transpired over recent weeks that will allow the single-currency to race higher.