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Forex pairs in this Article » AUD/USD, EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/JPY, USD/MXN, USD/RUB, USD/TRY (San Francisco) - According to John Normand, Head of Global FX Strategy at JP Morgan, market participants should expect another year of modest USD weakness (2% trade-weighted).

"Industry returns would only reach 2% as a best case if the carry focus persists, since G-10 and EM rates are so low and many central banks oppose currency strength," he explains.

JP Morgan's 2013 targets are:

EURUSD 1.34, GBPUSD 1.63, USDJPY 79, AUDUSD 1.07, NZDUSD 0.83, USDCAD 0.96, USD/BRL 1.95, USDMXN 12.00, USD/CNY 6.15, USD/KRW 1020, USDTRY 1.75 and USDRUB 30.79.
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