Corporate foreign exchange news

Published by Zeb BhamRisk management strategists at Goldman Sachs have cut their forecasts for the euro against a basket of competing regional currencies, such as the Norwegian krone, the Swiss franc and the Polish zloty.Bloomberg reports that the decision has been made as part of the investment house's "increasing focus on growth differentiation". This morning (March 11th), the group also cut its three-month forecasts for sterling against the euro, anticipating smaller gains against the single currency over the short term.However, Goldman left its six- and 12-month predictions unchanged, with the upcoming UK election viewed as the principal source of pressure on the pound.Sterling has suffered in recent weeks as the prospect of a hung parliament loomed in Westminster, with both major parties failing to escape the mire of scandal.While Gordon Brown sought to defend himself against accusations of bullying last month, the Tories face ongoing scrutiny over the tax affairs of Lord Ashcroft after it emerged he has been claiming non-domicile status.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site