Scotia Capital wins after calling time on euro appreciation
Scotia Capital has topped this week’s one-month forecast rankings after accurately predicting in mid-April that the euro’s steady appreciation against the US dollar and the yen would be halted in the wake of the European Central Bank’s landmark interest rate hike on April 7.
On April 15, the Canadian bank forecast EUR/USD would drop from 1.44 to 1.42 in a month’s time; EUR/JPY would drop from 120 to 114; and USD/JPY would drop from 83 to 80. All three forecasts were close to spot rates on May 16
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