EUR/USD could drop to 1.3000

EUR/USD could drop to the 1.3000-1.3500 range over the next few months, according to Steve Barrow, head of G10 strategy at Standard Bank. Concerns over Greek sovereign debt are likely to abate somewhat, but investors unwinding their longer-term positive bets on the common currency because of concerns over slow growth and fiscal issues in other euro zone countries will weigh on EUR/USD, Barrow says in a note to clients. "It looks as if euro weakness has almost developed a momentum of its own," Barrow says. EUR/USD was at 1.3923 from 1.3866 late Fri, according to EBS via CQG.