The phrase "agency has speculated that" is correct and usable in written English.
It can be used when discussing the conjectures or hypotheses made by an organization or agency regarding a particular issue or situation.
Example: "The agency has speculated that the recent changes in climate patterns may lead to more severe weather events in the coming years."
Alternatives: "the agency has suggested that" or "the agency has hypothesized that".
Earlier, South Korea's Yonhap news agency had speculated that Sunday's launch may have failed, but later quoted a military official as saying the North appeared to have put a satellite into orbit.
But Croatian news media, including the state news agency HINA, have speculated that the tribunal has charged two army generals, Ante Gotovina and Rahim Ademi, with crimes committed against Serbs at Medacki Dzep in 1993 and during a 1995 offensive by Croatian forces, called Operation Storm, that recaptured lands held by Serbian rebels.
Some news agency reports from Finland quoted officials as having speculated that the radiation pulse was carried by winds from the general direction of the Soviet Union.
Domestic media have speculated that Lagomarsino also worked for the intelligence agencies, although Fernández did not make this connection.
British trade publications had speculated that Sir Frank would gain a Heineken assignment for his new agency because of the close ties he developed with the Heineken family at his previous agency, Lowe Worldwide.
The St . Louis CountyPolice were present during the protests in Ferguson, and news reports have speculated that the militarized gear deployed during the protests may have been from that agency.
Trade publications have speculated that the haggling may take longer than usual this time as the networks and agencies grapple with issues like commercial ratings and how to measure DVR viewership.
Trade publications had speculated that O.M.D. USA would also take on the media-buying functions for the smaller Omnicom American agencies like GSD& M in Austin, Tex.; Goodby, Silverstein & Partners in San Francisco; and Martin/Williams in Minneapolis.
