CMC Markets wins with strong euro expectations versus the dollar
London-based online foreign exchange trading firm CMC Markets has topped this week's 12-month currency forecast after predicting a stronger euro on the back of an expected rise in equity markets.
On August 20, 2010, the firm predicted EUR/USD would rise from 1.2710 to 1.3 in 12 months, while the consensus view was that the pair would fall to 1.1919. On Monday August 22, EUR/USD hit 1.4405. Similarly, strategists at CMC forecasted that EUR/JPY would rise from 108.41 to 115.7 in one year. The
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