August 11, 2017 / 7:16 AM / 7 days ago

Morgan Stanley predicts euro parity with pound for 2018

The signature of the President of the European Central Bank (ECB), Mario Draghi, is seen on the new 50 euro banknote during a presentation by the German Central Bank (Bundesbank) at its headquarters in Frankfurt, Germany, March 16, 2017.Kai Pfaffenbach

LONDON (Reuters) - U.S. investment bank Morgan Stanley raised its currency forecasts for the euro on Friday, predicting it would hit $1.25 early next year and be one-for-one versus Britain's pound for the first time in its 18-year history.

Morgan Stanley also cut its forecast for the Mexican peso to 20 per dollar in the third quarter of next year, saying it would come under pressure ahead of the country's elections.

Reporting by Marc Jones and Patrick Graham

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